By The Associated Press
CORINTH, Miss. (AP) — The Corinth School District board of trustees has adopted a budget for the fiscal 2012 year that maintains the ad valorem tax levy at its current rate.
Superintendent Lee Childress said growth in property values should make additional revenue available to the district without a tax increase.
The budget, adopted Monday, seeks $5.1 million in local tax revenue, or 24 percent of total operational revenue. That is an increase from $4.89 million in the current budget.
State funding will account for 47 percent of the district’s operational revenue, while federal sources will provide 24 percent.