LOYAL'S LEVY GOING DOWN
Wednesday, August 26th, 2009 -- 12:52 PM
While most school districts in the state will experience a property tax levy increase this year, Loyal?s levy will actually go down.The school will hold their annual meeting on September 14th.
District residents will be asked to give their advisory approval to a levy of $1.3-million. That?s a decrease of just over 1% from the previous year?s levy.
Superintendent Graeme Williams says the levy will go down, despite big cuts in state aid, because the district is done paying off a referendum debt.
"We paid off our referendum that we had since 1997. We made our last payment last year, that was $265,000. That came off the tax rolls," Williams said.
Williams says the district approved a referendum in 1997 that allowed for renovation of many of the district?s buildings.
While the tax levy will go down about 1.4%, the board is still proposing the maximum property tax allowed under the state-imposed revenue cap.
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