Following a public hearing at its December 10, 2015 meeting, the Board of Education approved the proposed 2015 tax levy as presented. The Board also approved a resolution abating a portion of the taxes levied for the year 2015 to pay debt service on $9,995,000 School Bonds, Series 2012.
The total 2015 tax levy, including the Debt Service Fund, is $216,208,514. This is an increase of $0.1 million or 0.0% over the 2014 total levy extension of $216,106,227.
Since 2007, the Board has reduced the Debt Service levy by $28.3 million using existing reserve funds to pay an apportionment of its outstanding bonds. As part of the 2015 levy, continuation of the levy reduction plan was approved which included a $2 million property tax abatement. This brings the total levy reduction to $30.3 million since 2007.
Additional information on the 2015 Tax Levy is available here.