Summary
Faced with overwhelming opposition to its original proposal to raise property taxes by 40 percent, the Jordan School District has instead raised it by only 20 percent -- a staggering amount in its own right.
But the school board's decision, made official Tuesday night, hardly solves the new district's looming problems. Rather, it could make solving those problems more difficult in the future. The board reduced the size of the tax hike by taking $21 million from its reserves. Because reserves function as a savings account, this would be the equivalent of a person breaking open a piggy bank to pay monthly expenses. When the next month rolls around, that person will face those same expenses without the luxury of a piggy bank.See the full content of this document
Extract
Delaying Until Tomorrow ...
In addition, a raid on the reserves is likely to hurt the district's bond rating, which would make borrowing more expensiv...
See the full content of this document
Sponsored links
