School board approves levy increase of 7.39%
Higher property values mean the state will require local property taxes to shoulder more of the burden of funding Lake City Public Schools, according to a presentation by school district Business Manager Val Loppnow at the Dec. 19 meeting.
That is a large factor in the school levy increasing 7.39% from $4,910,912.97 this year to $5,273,842.03 next year.
According to Loppnow, the funding shift doesn’t mean any new money for the district, but it does reduce state aid by $177,000 and increase the local property tax levy by the same amount.
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