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NEILLSVILLE RESIDENTS APPROVE SCHOOL LEVY
Wednesday, September 1st, 2010 -- 1:13 pm
Posted by Riley Hebert-News Director
Neillsville school district residents approved a tax levy last night, but the numbers are subject to change.
Superintendent John Gaier says the levy is projected to go down about 2-percent thanks to some debt coming off the books. The levy approved last night would collect $3,949,872 from district property taxpayers.
The tax rate won’t be known until the district learns is property value. Neillsville tax rate last year was $8.22 per thousand, about .80-cents below the average for area schools.
Gaier says the district is in the third year of a 5-year, $300,000 per year, revenue cap exemption referendum
"It has helped keep us financially sound," Gaier says. "In lieu of what has gone on with school funding, and all the trouble other district have had, our folks' willingness to support referendums has really kept us financially viable. We appreciate their efforts."
Neillsville is facing significant declining enrollment. The graduating class of 2010 was around 100 students. The incoming kindergarten class is only about 74 and the 4-K class is in the 50s.
But, the district is in very good financial shape sporting a fund balance of around $4.9-million—a whopping 49% of their overall budget. That allows them to avoid short-term borrowing situations.
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