Loyal Board deciding how large referendum question will be



The Loyal Board of Education has two months left before it must decide for how much money to ask taxpayers in a Nov. 6 revenue cap exemption referendum. It knows how much it can request without raising taxes, but is that enough to both meet operational needs for the next 4-5 years as well as tackle significant building maintenance issues?
The Board discussed referendum possibilities again at a June 20 monthly meeting, a month after a financial consultant from Baird & Co. laid out some rough numbers for a referendum question in November that would, if approved, give the district enough money to operate at current levels for the next five years without raising the annual property tax rate. As presented by the consultant, the question would call for the district to add approximately $275,000 onto the final year of its current $395,000 annual exemption for maintenance items, and then ask for $675,000 per year over the next four years for operational expenses. If that would pass, the consultant projects the district’s tax rate would stay close to $9.10 per $1,000 of property value through the life of the exemption.

If you wish to read the whole article, pick up this week's newspaper or subscribe for our online edition. Subscribe to the Tribune Record Gleaner at http://centralwinews/eedition/

Contact CW Media

The Star News: 715-748-2626
Tribune Phonograph: 715-223-2342
The Record Review: 715-223-2342
Tribune Record Gleaner: 715-255-8531
Courier Sentinel: 715-861-4414

Comment Here