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Christina School Board approves split tax rate to lower residential bills, keep revenue stable
Summary
The Christina School District board unanimously approved a split tax warrant that reduces the residential rate while raising the commercial rate, intended to hold district revenue largely steady after a countywide property reassessment and surge in appeals.
The Christina School District Board of Education on a unanimous 6-0 vote approved a split tax warrant intended to reduce the tax burden on homeowners while preserving the district's revenue after a recent county reassessment and a surge in appeals.
The board approved a residential rate of about 61.5 cents per $100 of assessed value and a commercial rate of about $1.21 per $100, a change presenters said will produce roughly the same revenue as last year while lowering bills for most residents.
The change matters because Newcastle County's reassessment shifted taxable value from commercial properties to residential ones, district officials said. Bob Vaca, chief financial officer for the Christina School District, told the board that the district recorded roughly a $15,000,000 decrease in commercial taxable value and about a $39,000,000 increase in residential taxable value after the new assessments. He said the district is using a residential/commercial split "to bring relief to the residents as quickly as we could using the only tools we had." Vaca also…
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