Error means district won’t get all tax revenue it budgeted
BONDURANT, Iowa (AP) — A small Iowa school district won’t be getting nearly $900,000 it wanted to spend as part of this year’s budget, because officials have learned the budget revenue was in part based on an erroneous tax valuation from the county assessor’s office.
The Des Moines Register reports that the Polk County assessor’s office had included in the tax base figures for the Bondurant-Farrar school district a fourth building at Facebook’s giant data center in Altoona. But the $52.4 million building was exempted from taxation for 20 years as part of a development agreement the social media giant signed with the city and the Iowa Economic Development Authority. Exemptions also were granted for the center’s first three buildings.
Facebook spokeswoman Melanie Roe says the company learned about the error just a few days ago.
The district won’t get the erroneous windfall, because the county has corrected the tax base figures.
This story has been corrected to say the district won’t have to pay back the nearly $900,000, because the county has corrected the tax base figures.
Information from: The Des Moines Register, http://www.desmoinesregister.com