2007-01-20 / News

AASD budget approved

A tentative operating budget for the 2007-08 school year was approved by the Austin Area Board of Education last week.

Based on their expectations of higher payments from the state in lieu of taxes on stateowned forest and game lands, members agreed to hold the district real estate tax at its current level, even though expenses will be higher in 2007- 08.

State-owned land is tax-exempt, but the state pays the school district 40 cents per acre. Under a new law, that figure will triple to $1.20 per acre, with the money being derived from the state's share of revenue from legalized slot machines.

The budget, which is subject to final adoption, projects expenditures of $3.28 million in the coming school year.

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