How much money will Iredell’s school systems receive from the recently passed state lottery? While no one knows for sure at this point, some rough estimates can be made.

Lottery supporters claim the games will net the state about $425 million per year. The lottery legislation mandates that at least 40 percent of this amount be spent for school buildings. On a per-capita or per-pupil basis, Iredell’s share should be around $2.5 to $3 million. A Record & Landmark article said that Iredell-Statesville Schools Superintendent Terry Holliday calculated his system’s share at $2.9 million per year.

Iredell-Statesville’s share of the debt service on the bonds that will be voted on October 11 is $3,367,000. If Holliday’s estimates are correct, lottery proceeds would cover over 86% of this amount.

With that much lottery revenue available, many citizens may ask why they should vote to increase property taxes.