By Colleen Lehmann
While final figures regarding assessed valuation are still out, the likely amount Tuscola School District will levy for (to be paid in the 2014-15 school year) has been tentatively approved by school board members at the Nov. 25, 2013 board meeting … and that probable dollar amount is $4.5 million.
The $4,581,544 figure is approximately $217,000 higher than last year’s levy request of $4,544,964. Of that amount, the district ultimately ended up receiving $4,364,011.
The property tax levy is the annual amount of property tax dollars a school district is entitled to receive from its combined individual fund rates (excluding bonds and interest). Supt. Michael Smith explained that the rate at which the school district levies for the various funds is, for the most part, limited by state statute. For example, in the Education Fund, school districts can levy up to $2.75 per $100 of assessed valuation.
A breakdown of those 2013 levy requests for the various funds (and the previous year’s levy amounts) includes:
Operations & Maintenance–$561,476 ($553,395)
Working Cash–$56,148 ($55,339)
Social Security–$95,000 ($95,000)
Life Safety–$56,148 ($55,339)
Special Education–$44,918 ($44,272)
Final approval for the levy will be given at the Dec. 16 school board meeting.
–Full story in The Tuscola Journal Dec. 4, 2013 edition