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Old 08-26-2022, 06:49 PM   #82
John Mercier
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And the receipts from both go right into the Moultonborough school system.
None of it is transferred to another municipality or school district.

It has not been transferred since 2011.

If we change back, then the SWEPT would be collected and redistributed... and since it would not all go back into the Moultonborough system... the local school taxes to be raised would need to make up for the difference.

The State figures the districts educational grant, minuses the SWEPT, and then should the district still need more, provides that money with the Lottery revenue (much like the Augenblick Formula) and covers the difference using unallocated funds... since the money from tobacco is drying/dried up... that is largely business taxes.

So if a district raises more than the total of its grant... it doesn't get any extra funding... but it doesn't send any money anywhere else. It is all used to offset the local school tax portion.
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