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GRS school district to weigh $1 rate cut vs. stable tax rate
The issue stems from a five-year bond for school renovations, the majority of which was offset by state aid. Normally when the bond is paid off, the expense and revenue both end, but in this case the district was able to document work, mainly site preparation, for which the district is due an additional $540,000 from the state.
When the bond was approved, the district had promised voters that while it was being paid, no money would be spent on building projects, and there wasn’t. But there are some things that need to be done. The plan had been to put $150,000 in the building and grounds capital reserve account each year, and the staff would present projects to the school board in line with that amount.
Divided school board
School board member Suzanne Demers argues it should all go back to the taxpayers.
She presented the board with a report showing that giving all the money back could result in a $2 tax rate cut, although she said she expected it would be closer to $1.
They recommend putting $350,000 into the building and grounds account this year and nothing next year.
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