The announcement of the renovation of the Henry F. Schricker Public Library in Knox caused an avalanche of comments to the story on our website. Most of the comments have to do with the cost to the taxpayers.
Starke County Auditor, Kay Chaffins, contacted WKVI yesterday to correct a figure we used as a taxpayer obligation over the next 20 years.
At the Starke County Council meeting on Monday evening, the accountant from Umbaugh and Associates was quoted as saying the figure would be $.17 per thousand of assessed valuation. After the meeting, it was discovered that the figure was incorrect, but that was the figure given Monday evening, and that was the figure we used.
In actuality, the rate is 7/10th of one penny per thousand, lessening the obligation greatly to the taxpayers.
The taxpayers will not see an increase in their tax bills because of this project. A 20 year bond is being paid off at the end of the year, and the $1,785,000, 20 year renovation bond for this proposed project will replace it.
Here are is the Library portion of the tax rate that was given to us by the Starke County Auditor:
The Library General Fund: .0852
Library Lease Rental (debt service fund): .0077
Library Capital Project .0078
TOTAL LIBRARY PORTION OF TAX RATE: .1007
Which means out of the City of Knox’ tax rate which is 2.928 only .1007 is the TOTAL PORTION for the Library.
Of the 2011 tax rate for the City of Knox, $2.928 breaks down as follows:
Total County Portion .3988
Total Township Portion .0069
Total City Portion 1.2823
Total School Portion 1.1132
Total Library .1007
Total Airport .02610
TOTAL TAX RATE 2.928