New Budget, Tax Hike for FWCS
By: Robert Bumsted
Updated: October 2, 2012
Fort Wayne homeowners will soon be asked to give more money to local schools. On Monday, Fort Wayne Community Schools discussed a new budget that would hike taxes by around three percent.
Part of the reason for the increased spending is the need for building renovations. In the May election, voters passed a $119 million referendum approving improvements to many of the district's buildings. FWCS will begin paying off the loans taken out for that project in 2013.
The district is also budgeting for roughly $4 million in smaller renovations to schools not addressed in the ballot referendum.
FWCS says it is also expecting additional state funding for students. The school will receive an additional $42 dollars per student next year. Funding for Kindergarten will also increase by $3 million.
Overall, the budget is expected to increase by roughly five percent next year. Homeowners in Fort Wayne will see a three percent increase in taxes as a result.
Currently, the average homeowner pays roughly one thousand dollars in school taxes per $100 thousand in assessed home value.
Part of the reason for the increased spending is the need for building renovations. In the May election, voters passed a $119 million referendum approving improvements to many of the district's buildings. FWCS will begin paying off the loans taken out for that project in 2013.
The district is also budgeting for roughly $4 million in smaller renovations to schools not addressed in the ballot referendum.
FWCS says it is also expecting additional state funding for students. The school will receive an additional $42 dollars per student next year. Funding for Kindergarten will also increase by $3 million.
Overall, the budget is expected to increase by roughly five percent next year. Homeowners in Fort Wayne will see a three percent increase in taxes as a result.
Currently, the average homeowner pays roughly one thousand dollars in school taxes per $100 thousand in assessed home value.
