Pine City School Board Annouces Levy Decrease
The Pine City School Board voted to certify the tax levy payable in 2011 at their regular meeting Monday, December 20. The levy showed a decrease of 1.42%, or $46,695, to the district’s taxpayers.
The majority of the decrease was the result of a lower levy for the Debt Service fund which saw it’s levy amount decrease from $1,083,695 to $1,020,111 or a reduction of $63,584. “Our fund balance in the debt service fund caused the state to adjust our levy to a lower amount,” Superintendent Dennis Fischer stated. “In a normal year the district levies for 105% of it’s expected payments to allow for tax payment defaults and other factors. Then, if that fund begins to carry a healthy balance, the state will lower our ability to levy to keep our fund balance in a normal range. It is nice to see many local residents seeing a reduction in their taxes for the school levy.”
The Community Service levy also decrease slightly by 1.85% from $134,828 to $132,328. The fund provides for community education classes, adult basic education and GED operations, as well as early childhood and school readiness activities.
The General fund levy showed a .93% increase for next year. The levy amount was set at $2,094,164; up from $2,074,775. In addition to the local operating levy that was renewed this past fall, this levy also covers leases for space, such as the ALC at Korbel Arena, lease of other capital items such as vehicle, copiers, and other equipment, as well as ice time for the boys and girls hockey teams. The increase this year resulted from levying for some minor health and safety projects associated with the recently completed elementary addition and High School air quality project according to Fischer.