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http://www.in.i4ov/dljzf/files/2007 school construction thresholds.pdf. Thus, this construction <br />project is below the state threshold. <br />(2) Monroe Primary Center: <br />(a) costs of construction for remodeling 89,270 sq ft of elementary building per sq ft = <br />$145.84. <br />(b) total estimated costs of construction for a 19,635 sq ft addition to existing elementary <br />building per sq ft = $194.90. The 2008 School Construction Cost Threshold is $220.00 / sq ft for <br />additions to an elementary school. <br />htty://www.in.izov/dlpBfiles/2007 school construction thresholds.1W. Thus, the construction of <br />the addition is below the state threshold. <br />e. The effect that completion of the school building construction project would have on <br />SBCSC's tax rate: Maximum tax rate impact of this project = $0.0463. <br />f. Any other pertinent matter: <br />(1) Debt to assessed valuation ratio = 3.57% (outstanding debt); 0.66% (proposed new debt); <br />4.23% (total debt). <br />(2) School Corporation's current debt service tax rate = $0.3156. <br />(3) New facility appeal tax rate impact = $0.0055; and tax levy = $300,000. <br />(4) General fund tax rate = $0.6239 for 06p07 (current year) <br />Debt Service = $0.3156 for 06p07 <br />Total tax rate with other funds = $1.5353' for 06p07 <br />General fund tax rate = $0.6239 for 08p09 (first year of debt service repayment) <br />Debt Service = $0.2826 for 08p09 <br />Total tax rate with other funds = $1.5023 for 08p09. <br />(5) Assessed valuation of SBCSC: 5,509,693,648 for 06p07; 5,620,438,490 for 08p09. <br />SBCSC School Property Tax Control Board Hearing Information Sheet, January 22, 2008. <br />10. For 2006 -pay -2007, the average general fund tax rate for schools statewide was $0.6715. <br />SBCSC's general fund tax rate was $0.6239, which is $0.0476 below the state average. Thus, <br />-SBCSC's general fund tax -rate ranks 117th out of 339 schools in the state with a -general fund tax <br />rate. Department's analysis of general fund tax rates for 339 school general fund tax rates <br />statewide, June 26, 2008. <br />11. For 2006 -pay -2007, the average debt service fund tax rate for schools statewide was $0.3609. <br />SBCSC's debt service fund tax rate was $0.3156, which is $0.0453 below the state average. Thus, <br />'This rate provided on the Control Board Hearing Information Sheet does not include additional tax rates for "Art <br />Institute" and "Historical Society." If included, the rate would slightly increase to $1.5419. <br />Page 4 of 6 <br />