A school finance expert who was hired to come up with recommendations to deal with the Missouri’s school funding formula has presented his final report to the legislative Committee on Education. John Augenblick offers two approaches. The first would maintain the current minimum local property tax levy of $2.75, with the state kicking in the difference to maintain funding adequacy. The second allows flexibility in that a district would be free to allow for tax levies of $3.44, with the state contributing more as the district provides more. The second option would still allow districts to charge the minimum – which would only be 80-percent of the adequate level of funding. Augenblick says the first option would cost the state an additional $1.475-Billion, while the second option would require an additional $710-Million in state spending. The Committee will issues its report by the middle of next month.
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