•November 16, 2016•

By Ariana Cherry
for the News Progress

Arthur-Lovington/Atwood-Hammond School Board members passed a tentative estimated tax levy of 6.11%. Supt. Ken Schwengel explained that this estimate is based on an inflated EAV. “It is an increase in what the total levy would generate (minus bonds) based on our established tax rates and the inflated EAV.

It is not an indication of how much a person’s property taxes are going to increase,” he said. Schwengel receives estimates from each county which helps him calculate an estimated EAV. “I balloon the levy to protect the district from possible variances in the actual EAV. Regardless of how much I inflate the EAV, we will not receive more than our tax rate will generate,” he informed.

Last year’s projected EAV was $197,819,278 with a tax levy of 3.6753%. Schwengel estimated this school year’s EAV at $202,511,690. A truth and taxation hearing will take place at the board meeting in December.     Login or Subscribe to read the rest of this story.