INA — —
Rend Lake College trustees approved a 2.06 percent increase in its tax levy Tuesday night.
The levy, payable in 2013, will generate about $100,000 more than taxes paid this year. The combined extension is $4.8 million.
The levy includes an increase of 1.3 percent for corporate and special purpose funds which includes educational, operations and maintenance, and tort and liability. That increase will generate $3.14 million, up about $40,000.
The larger of the two levy increases in the overall extension is for debt service. There, the increase is 3.49 percent to generate $1.68 million for roughly a $57,000 increase.
Bob Carlock, vice president of finance and administration, said the increase in the debt service levy is due to the college district having to pay a higher amount on its principal toward debt retirement.
“This year it is a little bit heavier, there is a little bit more principal,” he explained following the brief trustee meeting.
The overall increase of 2.06 percent, which combines the two extensions, will cost the owner of a $100,000 house about $3 more in taxes, Carlock said.
The increase is less than 5 percent and does not require a truth-in-taxation hearing as a result.
In other business, the board:
- Approved revisions to board policy and procedure concerning purchasing technology equipment/audiovisual equipment (second reading);
- Approved the 2013-2014 academic calendar;
- Approved revisions to board procedure concerning fees; and
- Accepted the resignation of maintenance technician Thomas Clay Holman, who is retiring, effective Dec. 31.