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Thursday, September 27, 2018

State Senator Agrees to Discuss NEXUS Revenue with School Board

From The Press:
State Senator Randy Gardner, R – Bowling Green, said last week he’s accepted an invitation by the Woodmore school board to discuss property tax revenues from the Nexus pipeline and he tentatively plans to attend the board’s October meeting. 
“I told them I would be glad to meet with them and talk,” Gardner said. “The challenge is going to be there is not going to be any specific answer as to how much money will be available from any pipeline company and there is no definitive answer it will have on state funding. By the time this revenue would be available the next state budget would be in effect so the funding formula is likely to change. 
“It also depends on other factors that happen to the district – valuations change, student population changes. One factor of state aid is the local property tax wealth of the school district. Arguably, if there is a pipeline that adds valuation to the school district, the total value of state aid could be affected. But there is no way to answer that precisely. So if someone says what’s going to happen in 2020 or 2021, once construction of the pipeline is completed and the property valuation is determined you’re still not going to know the answer to that question precisely.” 
According to one estimate, Woodmore schools could receive about $5.3 million over five years from the pipeline when it’s operating.
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