A higher assessed valuation for Marion County R-II School District residents means a decrease in the tax rate set by the school.
The board set the tax rate at $3.5997 for incidental and $0.6537 for debt service for a total tax rate of $4.2534 per $100 assessed valuation. Last year’s rate was $4.3265, including $3.7479 for incidental and $0.5786 for debt service.
The debt service tax rate should generate around $625,465, while the debt service will generate around $113,584 assuming 100 percent collection.
See more in this week's Palmyra Spectator.