From Half A Cent To Two Million Dollars

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From Half A Cent To Two Million Dollars

Cyrus Patel

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Three years ago, a half cent sales tax was enacted to help to repay the loans which were received to help build James Clemens High School.

The sales tax designation was made with the belief that a property tax would come in to take its place, but there have been three attempts to get a property tax referendum on the ballot, and all have failed.

Dr. Dee Fowler had a few questions to ask when he gave an update on the tax. How much did it bring in? And what could it be used on?

“It brings in over two million dollars a year and it can be used for anything to help run the district. Also the half-cent sales tax is producing more revenue than projected” said Dr. Fowler.

“This will not increase the 17-year term of the current tax, and there will be no need to approach Council or Legislature for a property tax to meet educational needs of a growing community.”

Paying back the loans used to help build James Clemens Highs School will be very easy.  It is projected that over the next 17 years, the tax will bring in over 26 million dollars, and it will give Madison city schools a chance to upgrade their technology, and keep up the rapid growth.

The half-cent sales tax is a great idea, for example, if a loan of 20 million is taken out, only 10 million is paid back. This will bring in more revenue and keep stepping up the growth of the Madison city schools system.