City Schools of Decatur Mulls New Bond Issuance

EDITOR’S NOTE: This article was modified after publication.

City Schools of Decatur is considering a referendum which would call on voters to determine if the city can issue more bonds to help pay for the costs of building new schools.

According to Decaturish, the school board will meet on Monday evening to discuss the proposed referendum, which would generate $82 million meant to provide more space for the school system’s burgeoning population. However, the money would come as more debt to the city, debt that would require a nearly 5 mill increase of city property taxes.

The increase would mean that a homeowner with a home valued at $300,000 would pay more than $700 in new property taxes after 2017, while a $700,000 home would be assessed nearly $1,700 more in taxes.

>>Read the full story at Decaturish