Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board reviews Construction Excise Tax revenue, $2.1M balance and options for long-range use
Summary
District finance staff reviewed the Construction Excise Tax (CET) program, explained allowable uses, reported a roughly $2.1 million CET fund balance and raised the possibility of increasing the CET rate under state indexing rules.
District finance staff briefed the Newberg School District 29J board Tuesday on the Construction Excise Tax (CET) revenue stream, how the district has used the funds since creating a dedicated CET fund in 2015, and ways the board could plan for future capital needs.
Nathan, the district’s director of finance, summarized the CET as a locally collected fee on new construction intended to help pay capital costs not covered by state school funding. “There is a tax assessed on new residential and commercial construction, that brings a small amount of money, into districts to help offset some of those costs that aren't…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
