Franklin Regional officials have pared the district's anticipated tax-rate increase by almost half.
On Monday, officials said a 1.75-mill rate increase would balance the district's $49.6 million budget, If adopted this spring, the proposed increase would generate about $672,000 in revenue for the district.
Franklin Regional has a property tax rate of 87.68 mills. Officials have raised the tax rate in the district for 10 consecutive years. The proposed increase would raise taxes about $61 annually for the owner of the average home in the district, which carries a $35,000 assessment.
In February, officials supported a preliminary budget that projected a 3.33-mill rate increase. Finance director Jon Perry said officials were able to pare down the anticipated increase because of unexpected staff retirements and lower-than-anticipated insurance rates.
Seventeen teachers plan to retire following this school year. Superintendent Emery D'Arcangelo said the budget reflects plans to replace all 17.
The budget also reflects the use of about $270,000 from the district's reserve fund designated for retirement costs. Officials are slated to vote next week to move an additional $1.25 million into the fund, which the district began in 2008. It is designated to help provide tax relief when state mandated retirement contributions spike during the next several years.
Perry said the district will have about $3.84 million in the fund at the end of the school year.
Daveen Rae Kurutz is a staff writer for Trib Total Media.
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.