Businesses will feel the pinch of a one-time tax increase in Orangeburg Consolidated School District Four.
A business with property valued at $100,000 will pay an additional $180 in taxes during the 2015-16 school year, financial consultant Glen Stiegman said.
The increase is not a heavy one for businesses that are already paying $6,200 in taxes, he said.
Additionally, vehicle taxes will increase by about 1.5 percent, he said. For example, taxes on a vehicle worth $10,000 will go up $10.80.
But residents who own the homes they live in will not be affected by the one-time deficiency tax of 18 mills approved by trustees last week as part of the district’s $29.5 million general operating budget.
Trustees also approved a recurring 2.4-mill increase.
The district’s current rate is 152 mils.
The district was allowed to legally implement the one-time, 18 mill increase because the district’s fund balance dropped to $2.1 million at the end of 2013-14.
Then-Superintendent Brenda Turner said earlier that $807,000 had to be pulled from the fund balance to meet unanticipated expenses, including replacement of HVAC units.
The 18-mill increase will fall off at the end of fiscal year 2016, Stiegman said.
The new budget, which gives 2 percent raises to all employees, shows about $575,000 more in revenue than expenditures, Stiegman said.
That will go a long way in making up the past deficit, he said.
In other business, board Chair Peggy Tyler recognized Turner, who retired June 30 to care for her mother after four years as superintendent.
Tyler said she wasn’t really convinced Turner was retiring.
“But we thank you for your four years of service here at OCSD4. We are going to miss you,” Tyler said.
Turner said she’s going to slow down and listen to God to see where He might direct her for an adventure in the future.
“But for now, the adventure is going to be giving some high-quality time to my mom,” she said. “My undivided attention is going to be directed at my mom for the upcoming future.”
Turner recognized 18 other employees who retired at the end of the school year.
Dr. Tim Newman is the new superintendent.
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