Marathon board approves post-referendum levy options

By Kevin O’Brien

Ahead of the Nov. 5 referendum, Marathon School Board members have chosen two options for a property tax levy based on whether or not voters say yes to a request for a $1.6 million boost in the district’s annual revenue limit.

At a special meeting on Monday morning, board members convened to consider three different alternatives for a 2024-2025 tax levy based on the outcome of the Nov. 5 operational referendum. In the first alternative, which assumes that the referendum passes, the total amount of taxes collected by the district would be just under $4.9 million, which includes $4.5 million for general operations, $36,731 in nonreferendum debt payments and $332,900 in referendum-approved debt.

The remaining two alternatives were developed in case the referendum fails. The alternative chosen by the board includes a total tax levy of $3.7 million, which includes $2.9 million for operational expenses, $36,731 for non-referendum debt payments, and $797,077 for previous referendum debt with a defeasance, which allows districts to prepay their debts and save on interest costs.

Another alternative, without a defeasance, would have resulted in a total tax levy of $3.3 million, including $2.9 million for operations, $36,731 for non-referendum debt payments and $322,900 for referendum-approved debt.

In August, the board voted to proceed with a $1.6 million recurring referendum, which will be used to help the district meet its operating expenses going forward.

Under the budget resolution adopted at the annual meeting, the district’s mil rate would increase from $8.42 per thousand dollars of equalized property value up to $8.55 per thousand. That rate could change, however, depending on the outcome of the referendum.