Pasco school district faces another budget hit
Pasco property appraiser Mike Wells delivered bad news to the Pasco school district today: The district's taxable value for 2012-13 is headed downward yet again.
The new estimated value is $21.15 billion, down 5.86 percent from a year earlier. It's also lower than initial estimates that district officials had received.
School district spokeswoman Summer Romagnoli said the decrease could translate into another $500,000 drop in general operating revenue, beyond the $25.3 million shortfall the district already faces. It also could generate a decrease in capital projects tax revenue of about $1.7 million.
This is the fifth consecutive year that Pasco property values are down. They dropped 2.5 percent in 2011 and 11 percent in 2010.
School Board members are slated to discuss this latest news, along with other financial concerns and input from town hall meetings, as they meet Friday morning to set budget priorities for the 2012-13 school year.