Baldwin schools CFO: loss of property and penny sales taxes could result in $36 million system deficit | AL.com

If Baldwin County voters once again turn down property tax renewals, as well as the extension of the current penny sales tax, their public school system could face a catastrophe in less than five years.

That was the message of system Chief Financial Officer John Wilson, who presented Baldwin school board members with a financial projection during a special meeting on Thursday evening.

According to Wilson, a single mill of property tax could be worth around $4 million in 2017, compared to about $3.7 million today. And if the current rate of 12 mills which tax payers contribute to the Baldwin County school system is reduced to 10, it could lose $8 million in revenue. That, along with the possible expiration of the penny sales tax, could contribute to a sizable funding deficit in less than two years, Wilson said.

via Baldwin schools CFO: loss of property and penny sales taxes could result in $36 million system deficit | AL.com.