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School board votes to raise taxes to fund debt service

wpid-sjsd-logo2.jpgThe St. Joseph School District Board of Education on Monday decided to raise property taxes in order to fund payment of bond debts.

The district has been funding debt service through its operating levy, but that levy expired in the aftermath of the stipend scandal. State statute allows the tax increase without a public vote because the new rates do not exceed the tax ceilings previously established by the board.

School district officials say the tax will generate approximately $1.362 million, to be used only to pay down debt service and bonds. It goes into effect immediately, and will show on your taxes in November.

The board approved an increase of 13.1 cents per $100 of assessed valuation. That translates to about $25 more per year for the owner of a $100,000 home.

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