LOUISVILLE, Ky. (WDRB) -- A total of $95 million in school improvements are on the line when voters in Clark County, Indiana, head to the polls for a special election Tuesday.
Leaders with West Clark Community Schools asked for the referendum to add on to Silver Creek High School and make various improvements to the other schools in the district.
If passed, this is the description on how much the proposed referendum would cost taxpayers:
“Shall the West Clark Community Schools, Clark County, Indiana, issue bonds or enter into a lease to finance the 2018 West Clark School Building Renewal/Restoration, Expansion and Safety Project which includes restoration, expansion and renovation work at approximately eight buildings and which is estimated to cost not more than $95,000,000 and is estimated to increase the property tax rate for debt service by $0.7314 per $100 of assessed valuation?"
The final line of the ballot, including the words, "by $0.7314" is causing confusion. Superintendent Chad Schenck clarified what that means.
"That's the maximum impact of this project, and this project alone, at the very end of the project, when all other debts are paid off," Schenck said. "Everyone is paying 49 cents (debt service rate) right now. We aren't adding 73 cents to that."
That means taxpayers would take on up to an additional 24 cents to their debt service rate while paying off the 20-year bonds.
The district provided WDRB News with its proposed payment schedule, which includes property values and the expected impact to taxpayers under the referendum through 2038:
The polls open at 6 a.m. Tuesday and close at 6 p.m. For polling locations, click here.
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