School board to send property tax increase proposal to city council
The Madison Board of Education passed a resolution Wednesday night that will send a proposal to the Madison City Council to increase the mill property tax by 6 mills.
That would increase the millage from 27 to 33 mills for the school tax, upping the total to 63.5 mills.
During Wednesday’s City Council meeting, representative Tim Holcombe said the proposal will be coming before the council very soon.
The board had consider a higher millage increase, but settled on 6 mills following the good news in October 2010 on the qualified school construction bond rate for the new high school.
“We are at the point now that where we believe instead of 8 or 7 mills, that 6 mills would pay for the qualified school construction bonds,” said Superintendent Dr. Dee Fowler.
