Jeff YarberCLEVELAND, Tenn. — Bradley County commissioners reviewed long-range plans for funding $38 million in capital projects in a Wednesday evening meeting with county and city school officials.
The current proposal calls for more taxes, one way or another, but the school systems may not receive the funding until 2014.
A $32 wheel tax — added each time a car is registered in the county — or a property tax increase of just under 15 cents per $100 of assessed value would allow the county to borrow the money while maintaining its debt service, according to a proposal presented by Commissioner Jeff Morelock.
The county would pay $2.5 million annually on a 25-year bond at 4 percent, according to plan estimates.
A wheel tax of $35 also would give the county $270,000 in which to create a merit pay program for its employees, according to the proposal.