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Mount Vernon City Schools finance chief warns state tax changes could cost district about $8 million
Summary
District finance staff told the board that recent state property-tax changes and related county actions could reduce the district's revenues by roughly $8 million over the five-year forecast; staff also described a one-time $5 million cash adjustment and explained how calamity days and remote-learning waivers affect required instructional hours.
The Mount Vernon City Schools Board of Education on Feb. 13 heard a five-year financial forecast that cautioned the district faces substantial revenue headwinds from recent state property-tax reforms.
"The property tax reform is gonna cost our district, as it stands right now, about $8,000,000 over the life of the forecast," said Judy, the district finance staff member who presented the report, during the board's fiscal services update. She told the board the district is still evaluating the changes and urged careful planning.
Why it matters: the forecast combines multiple changes in…
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