The Mooresville Graded School District Board of Education on Tuesday raised the district's supplemental property tax rate by 5 cents.
The increase from 13.5 cents to 18.5 cents per $100 property valuation will generate about $1.5 million in revenue next year, the district said. The MGSD maintains that the increase is necessary to offset an expected $1.4 million deficit.
Tuesday's vote was 4-1, with board member Nancy Cross opposing the increase without comment.
The rate hike equates to about $75 more per year on a property tax bill on a house worth $150,000. The new rate will take effect in July and will show up on property tax bills in January. It will only affect people who own property within the MGSD.
Prior to Tuesday's board vote to raise the tax rate, nearly a dozen local residents and business owners spoke in favor of the measure. No speakers opposed it.
After the vote, Supt. Mark Edwards praised the action. "We're not only thinking of kids in schools today, but children ages 4, 3, 2, and 1, and how it will impact them and the families this will impact," he said.
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