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GRANTON TABLES ACTION ON LEVY
Tuesday, October 19th, 2010 -- 12:20 pm
Posted by Riley Hebert-News Director
The Granton School Board delayed action on their tax levy at last night’s regularly scheduled meeting.
Granton, like other districts in the area, was dealt a double-whammy of bad news last week. Property values in the district dropped by 3.5% and state aid came in $23,000 below estimates. The drop in property value came after 10 years when the district’s valuation increased an average of 5.5% per year.
The result will almost certainly be a slightly higher tax levy than was presented during the annual meeting. A higher tax levy combined with a decrease in property value means the tax rate will shoot up from $10 last year to around $11.98 for the 2010-2011 budget.
Even at $11.98 per thousand dollars of property, the district would be under levying by $116,000. If the district elected to “tax to the max” under the state-imposed revenue cap—as most districts do—the tax rate would jump to $13.20.
The school board elected to table action on the levy until their next meeting in November. They plan to hold a public hearing on the issue, seeing the numbers are so different than what was proposed at their annual meeting back in August.
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