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City leaders approve tax hike to fund schools

GREENWOOD — The Greenwood City Council has approved a $25.5-million budget for the school district that includes an increase in the school tax rate while also approving a $10.6-million general fund budget that keeps the city tax rate the same.

City Clerk Nick Joseph tells The Greenwood Commonwealth that the school district’s new budget contains a 3.5-mill tax increase, roughly $315,000, which is permissible under state law. The rate rises from 46 mills to 49.5.

The move increases taxes on a $100,000 home with homestead exemption by $35, and the taxes on a $20,000 car increase by $21.

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