4.97% Levy Increase Ahead

•November 25, 2015•

By Ariana Cherry
for the News Progress

The checkbook currently has $7,169, 575.50, and all funds are in the black,” stated superintendent Ken Schwengel at the most recent Arthur-Lovington/Atwood-Hammond School Board meeting. “The state aid payments are scheduled through December 20, but after the first of the year, I am not sure what will happen,” he stated. “We’ve received 90% of the property taxes and have not received any incentive funding yet,” he added.

The board also discussed and approved a tentative 2015 tax levy for property taxes paid in 2016. The levy is set at a 4.97% increase in property taxes. There won’t be a Truth in Taxation hearing since the increase is less than 5%. The levy was calculated from the estimated 3% increase in the district’s assessed value. In 2014 it was $193,270,479 and in 2015 it increased to $199,068,593. The tax rate for Arthur and Lovington will be $3.56 per $100 assessed value and those in the Atwood-Hammond area will be $4.62 per $100. The board will vote on the final tax levy at their December 9 meeting.

Other matters that were discussed or voted upon:

-The district received $3,700- their first check from Piatt County sales tax.     Login or Subscribe to read the rest of this story.