LAFAYETTE, Ind. (WLFI) - Property tax caps cut more than a half million dollars from the Lafayette School Corporation.
The LSC Board of Trustees voted Monday night to reduce the Capital Projects Fund by $680,000 for the upcoming year, including $100,000 set aside for construction and improvements to Oakland High School, and $165,000 for tech training expenses.
LSC Chief Financial Officer Eric Rody said with the tax caps this process happens every year, but because property values can go or down, the exact dollar amount is not known officially until the tax ratings are certified.
But after a couple years of experience, he said officials are getting better at planning for them.
"Specific projects no matter what they might be, had not been targeted at that point," Rody said. "That's one of the ways we're learning to deal with these things.
He added, "We're not hurting. School is going to open up in a couple weeks and we're going to be just fine."
In addition to Oakland High School, seven other schools had construction and improvement budgets cut by more than $45,000.
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