The Louisiana school board covered a lot of ground in a short period during their monthly meeting on Monday, July 18.
The school received its figures to set the tax rate with the assessment dropping $6.5 million, causing a $250,000 hit to the district.
“I am in the process of re-tooling the budget and there is no doubt that our operating levy will have to increase,” Louisiana Superintendent Dr. Todd Smith said.
“The debt service levy will remain the same—we made that commitment to the voters.”
The current operating levy is $3.39 with the debt service levy at 50 cents for a total of $3.89.
Calumet had large assets switched from 20 year depreciation to five year depreciation causing the substantial drop.
“It lets them pull down assets in a larger chunk,” board member Marvin Brown said.
The depreciation change impacts the school district since school funding comes from property tax, according to Smith.
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