2008
Missouri LP
Candidates

FOR IMMEDIATE RELEASE

Contact:
John Schultz, Chair
Boone County Libertarian Party
Columbia, MO 65202
E-mail: chair@boone.lpmo.org
Website: http://boone.lpmo.org

Boone County Libertarians urge longer look at proposed library tax

Columbia, MO - March 15, 2007- The Boone County Libertarian Party (BCLP) urges
residents living in the Boone County Library District to think carefully about
the request to increase that entity's property tax rate to build two new branches.

BCLP Chair John Schultz says "I was recently invited to speak against the tax
proposal at a League of Women Voters forum so that both viewpoints on the tax
increase would be represented.  At first, I declined since I was not very familiar
with the issue, but later agreed to research the matter and spoke at the forum.
Additional investigation has me concerned that the level of funding may be more
than necessary for library operations."

The property tax increase would raise the district's rates from 29.86 cents per
$100 of assessed valuation to 50.86 cents.  That rate would stay in effect for
ten years and then drop to 45.86 cents.  The majority of these new funds is to
pay for a new library branch in Ashland and a second branch in northern Columbia
to serve the northern half of Boone County.

In 2006, the total assessed valuation of property in the Boone County Library
District, according the county assessor, was slightly less than $1.4 billion.
The estimated cost to build the two branches is approximately $15.5 million.
The additional 21 cents per $100 of assessed valuation would raise roughly $30
million over the ten-year increase, almost double what is needed to build and
furnish the two branches.  That does not even take into account the increase in
valuation that has occurred in the Boone County Library District, averaging over
eight percent per year the last six years, which would result in the district
receiving an additional level of funding that cannot be reliably estimated.

It is likely that some of the extra requested funds are due to the library
probably issuing bonds to cover the building costs and budgeting for repayment
of those bonds.  However, the Ashland branch could be paid for in two years by
the funds collected by the increased tax, negating the need to issue bonds for
that particular project and saving the district's tax payers money.

Another troubling aspect of the property tax increase is that the rate does not
drop back to current levels after the ten-year increase to fund the new branches.
The Columbia Library District's property tax rates are currently composed of a
base 29.7 cents per $100 assessed valuation tax rate, plus an additional 23 cents
per $100 assessed valuation to pay for construction bonds for the recently-built
downtown library.  The Daniel Boone Regional Library says on their web site that
all revenue needed to pay off that debt will have been collected by 2017.  We
believe this to mean that the debt service property tax would no longer be
collected and tax payers in the Columbia Library District would see an immediate
savings on their property tax bill.  This is the model that should also be
followed to fund the two new branches.  If the library district seeks additional
property taxes to fund the library or its services beyond the new branches, it
should make a stronger case that this funding level is necessary in 2017.

The final issue the BCLP has is with the location of the northern branch.  A
portion of land on the Atkins Tract near the Boone County Fairground has been
identified as the possible home of this new branch.  We are concerned that the
planning for this building has just begun, such that the estimated costs are
not adequately determined, and also that the branch may not be "north enough"
to serve the residents of Harrisburg, Sturgeon, and Hallsville as envisioned by
the district.  It would essentially be a northern Columbia branch of the library,
rather than a branch for northern Boone County.  Additionally, the district has
criteria to determine where a new branch should be placed.  How soon would it be
until the growing town of Hallsville would meet these criteria and also need a
branch?  Does it make better sense to place this new northern branch either in
Hallsville, or a location roughly equidistant from Hallsville, Sturgeon, and
Harrisburg that is further north than the proposed location?

BCLP Chair John Schultz comments "The Boone County Libertarian Party is not
opposed to public funding of libraries.  I have two young boys who love to visit
the downtown library.  We are just asking local citizens to determine if this
level of funding is appropriate.  There has been almost no discussion of this tax
increase and we find ourselves less than a month away from deciding the issue at
the polls."

The Boone County Libertarian Party is affiliated with the Missouri Libertarian
Party, one of three established political parties in Missouri.


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