Mercer County board maintains 71.6¢ tax rate; finance officer gives budget update
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Summary
The Mercer County Board of Education voted to keep the compensating property tax rate at 71.6 cents, heard a fiscal recap for July and received an update on payroll timing and dual-credit support.
The Mercer County Board of Education voted to maintain the compensating property tax rate at 71.6 cents per $100 of assessed value, approving the recommendation in a roll-call vote.
At the meeting the finance officer delivered a fiscal recap for July 2025, reporting that end-of-year accounting entries remain in process and that the district completed a large initial payroll on Aug. 15 for staff who work the school year. The finance officer said district fiscal staff expect final end-of-year entries to be completed in the coming months.
Board discussion included the district's components of revenue under different rate options. The finance presentation listed alternative rates under consideration: a compensating rate of 67.8 cents and a 71.6-cent rate; a 4% increased-rate alternative and a so-called subsection 1 rate of 74.3 cents were presented for comparison. Staff noted the district pays the first 15 credit hours of college for graduates as part of its dual-credit support program and that the district's buses are paid off and a new elementary school project is underway.
A board member recommended retaining the same 71.6-cent rate used the prior two years. The board moved, seconded and adopted that recommendation by roll call.
Votes at a glance: Property tax rate (compensating) — approved (71.6 cents; roll call: yes:5 no:0; mover/second: not specified in transcript).
District staff said they will proceed with final budget adjustments and return with further financial detail as end-of-year entries are completed.
