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Tax Increase for Schools Favored

Contact: Mary Margaret Colliver

 

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If this increase were to be enacted by the Fayette County Board of Education, it would result in an additional tax of $50 a year for a $100,000 home. This would increase the school system’s bonding capacity enough to provide for eight to 10 new buildings or renovations, according to SRC Director Ronald Langley.

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LEXINGTON, Ky. (Sept. 17, 2003) -- According to a summer survey by the University of Kentucky Survey Research Center (SRC), Lexington/Fayette County adults would be in favor of a property tax increase to help local schools.

Of the 1,091 randomly selected Fayette County residents surveyed, 70 percent were in favor of a property tax increase of 5 cents per $100 of assessed valuation if they were assured the additional revenue raised would be earmarked for building new schools or renovating existing schools. The increase is 10 times the amount recently approved by the Fayette County Board of Education.

If this increase were to be enacted by the Fayette County Board of Education, it would result in an additional tax of $50 a year for a $100,000 home. This would increase the school system’s bonding capacity enough to provide for eight to 10 new buildings or renovations, according to SRC Director Ronald Langley.

The SRC conducts socially significant research with public policy implications as well as research of theoretical or academic interest. For more information on the survey, visit the Web site or the Lexington Herald-Leader article.


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