ADAIR COUNTY SCHOOL DISTRICT
FACILITIES CONSTRUCTION

"ASSESSMENT FACTS"

1. The "nickel tax" is on the assessed value of real estate and tangible personal property.
2. Does NOT include motor vehicles, furniture, cattle, farm equipment, etc.
3. Anyone not owning taxable real estate or personal property = NO TAX!!
4. Renters do NOT pay.
5. 100% of funds go for building and maintaining facilities for our students.
6. 0% goes to Frankfort.
7. CANNOT be used for salaries, books, supplies, busses, etc.
8. According to architects, would take $7.5 M to upgrade Casey to current standards.
9. Would cost in the $9M - $11M range to build a new elementary.
10. Nickel would allow us to begin construction next summer on a new school toreplace Colonel William Casey.

EXAMPLES OF HOW MUCH

1. $25,000 of assessed value = $14.00 per year = $1.17 per month = $0.04 per day
2. $50,000 of assessed value = $28.00 per year = $2.33 per month = $0.08 per day
3. $100,000 of assessed value = $56.00 per year = $4.67 per month = $0.15 per day
4. One quarter ($0.25) per day would pay the yearly nickel tax on $163,000 !!!!

WHY NOW?

1. The replacement cost is not much more than the cost of massive renovations needed at CWC. (The state would not allow us to spend that much on renovations.)
2. Would allow us to be eligible for federal assistance that could save $1M -$2M in interest.
3. Allows us to qualify for $475,000 per year in state funds to use for other needed construction (such as a bus garage/maintenance building, band room, baseball field, track, etc.)
4. Potentially saves $1M or more in construction costs.
5. This all means a total savings to the district of $3M - $4M.

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QUESTION
Are the young people of Adair County worth PENNIES per day???