A $402-million increase in the assessed property value of the Conoco Phillips refinery in Roxana will bring savings to residents living in the Roxana School District as school officials have announced plans to lower the district's property tax rate.

School officials say that the property tax rate in the district should become the lowest in Madison County, dropping from $4.37 to $3.89 per every $100 of assessed property value. The reassessment will also prevent the district from having to consider cutting it's staff.

District officials have also announced some long term goals including building reserves as they will have to adjust to receiving less in general state aid during the 2013-14 fiscal year as a result of the larger property tax receipts from the refinery. Other priorities for the district include adding air conditioning to the junior/senior high complex, addressing other facility needs, providing more professional development for staff, and the addition of technological incentives and programs for students.

(Copyright WBGZ Radio/www.AltonDailyNews.com)