Public School Finance: Prospectus Paper :: essays research papers

Public work Finance Prospectus Paper okay proceeds companies are presently protesting the amount of taxes thatthey must lucre. The dispute came about because of the difference between what profit companies and other commercial-grade properties and other entities such asrailroads and airlines must pay. The improvement companies originally protested allof the taxes that they had to pay. They are now protesting the percentage oftaxes that they must pay above what the commercial properties pay. The money iscurrently going into escrow accounts until a determination over the taxes has beenmade. According to okey Tax Commission estimates, the protests could affect more than than $63 cardinal in funding for schools and counties across the state. Themoney go away not be allocated into the schools until the dispute has been settled.A large group of okeh superintendents has been brush with the big fourutility companies (Public Service Company of Oklahoma, Oklahoma Natural Gas,Oklah oma Gas and Electric and Southwestern Bell) to try to croak a compromise.The most recent meeting occurred on Monday, November 28, 1994. At that meetingMarvin Stokes, Superintendent of Byng Schools, proposed that the utilitycompanies be assessed at 25 mills and that commercial properties be assessed at20 mills. This would overprotect around $100 million in new revenue for Oklahomaschools. Eugene Chitwood, Okemah County Assessor, suggested that public servicecompanies be assessed at 23 mills and that commercial properties be assessed at15-19 mills. This would generate around $50 million in new revenue for Oklahomaschools. The utility companies are currently paying 22.85 mills and commercialproperties are paying 11 mills. Private advalorem property is assessed at 11-14mills. The utility companies were candid to the suggestions. They do notcare if their taxes are increased as great as commercial properties are assessedat a higher take aim as well. Another idea proposed to the utili ty companies fortheir tax rate to decrement to 21.85 mills. This would free up around 58 milliondollars immediately if the utility companies agree.The group of Oklahoma superintendents will meet with Glen Johnson ,Speaker ofthe plate, on Monday, December 5, 1995. The superintendents tint that it wouldbe to their advantage to have there concerns heard by the House even though the dry land Equity board has the final say. The secern Equity Board is comprised ofthe Governor, Lieutenant Governor, State Superintendent of Schools, StateTreasurer, the State Auditor, and the State Secretary of Agricultural. In orderto get a m passed by the State Equity Board, a measure must go through fourof the 7 votes.