by Jackie Nunnery
LANCASTER—The Lancaster board of supervisors on Thursday, June 27, increased the real estate tax rate from an equalized rate of $0.57 per $100 assessed value to $0.63 per $100 assessed value.
The increase was made to account for funding increases in the 2020 fiscal year budget, also approved by supervisors.
Local money for schools accounts for $0.02 of the increase, with another $0.02 for capital improvement expenditures that will come out of the operating budget rather than borrowing, said county administrator Don Gill.
An additional $0.01 was added to ensure the county met the required 7% reserve fund to expenditure ratio and to begin increasing the fund balance. The last $0.01 was added to ensure funds for new schools on the horizon.
The vote was 4-1 with supervisor Jack Larson objecting…
