The Waynesboro School Board has endorsed a $76 million project to build a new Waynesboro High School. Financing this could add 30 cents to the city property tax rate.
This is according to a report from Deputy City Manager Jim Shaw.
The current city property tax rate is 80 cents per $100 assessed value.
The impact of a 30-cent tax increase on a homeowner with a $200,000 property would be $600 a year.
Shaw laid out several different scenarios for debt service on the project. A 20-year payback would force the 30-cent tax increase. The best case for a 30-year payback would require a 22-cent tax increase, impacting a $200,000 property owner with an extra $440 a year on their city tax bill.
The School Board voted 5-0 in June to endorse the new school plan, but City Council will be the ultimate arbiter on what happens with the proposal.
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