Spencer to hold info session next week

Spencer School District residents seeking information on the district’s April 5 revenue cap exemption referendum can attend an informational meeting with the Board of Education on March 16 at 6:30 p.m., in the LuCille Tack Center for the Arts. The Board will have data on its proposed 5-year plan to raise local taxes to pay for ongoing operational expenses.

The Board this spring is asking taxpayers for a 5-year cap exemption that would raise a total of $9.75 million to continue educational programs and staffing levels at current levels. Voters in April 2021 rejected a proposal to extend an exemption by one year at $975,000, which required the Board to make spending cuts that affected staff and course offerings. The Board and its financial consultant are now using enrollment, state funding and other projections to determine how much money would be needed from local taxpayers over a 5-year period to prevent further reductions.

The district is projecting that the local property tax rate will not climb higher than the $11.50 per $1,000 of property value it was at in 2020. The tax rate fell to $8.71 this year because the last cap exemption was not extended. If this new referendum is passed, the rate would go up again, to an estimated $10.95 by the final year.

The Board is proposing a cap exemption of $925,000 for the 2022-23 year. It would then rise each year for the next four, with a final amount of $2,550,000 in the final year.

The Board is also planning a second informational meeting. It is set for March 29 at 6:30 p.m. in the Tack Center.