MT. VERNON — The Mt. Vernon Township High School Finance Committee Monday reviewed the district’s tax levy for 2013, which seeks a 7.91 percent increase over the prior year.
In November, the tentative levy showing this increase was approved by the MVTHS Board of Education.
The levy is now set to be formally adopted at the Dec. 16 board meeting, following a required Truth in Taxation hearing.
At Monday’s committee meeting, Superintendent Michael Smith presented more detailed information on the levy to show board members exactly what will be adopted at the Dec. 16 meeting.
“We’re presenting a 7.91 percent increase,” Smith said. “Based on past trend data over the last three years, we will probably realize about a 3.1 (percent) increase.”
Tax caps restrict how much of a levy increase districts can have.
Levy hikes for existing property values are limited to December’s Consumer Price Index amount or 5 percent, whichever is lower. The CPI figure as of September was at 1.2 percent.
MVTHS officials hope their total levy increase will reach 3.1 percent when the district factors
in new property growth.
Smith said the district sought an 8.28 percent increase last fiscal year, but only ended up receiving a 3.79 percent increase.
Carl Miller, president of the MVTHS Board, said it was beneficial for Smith to review the levy information with the Finance Committee.
“I’ve been at it for years and it’s still good to have a review,” Miller said.
The Truth in Taxation hearing will be held at the beginning of next week’s regular MVTHS Board meeting, which is set for 7 p.m. Dec. 16. The hearing is a requirement for any proposed levy increase of more than 5 percent.
At the hearing, local taxpayers will have the chance to address the school board about the levy.
Miller said last year’s hearing drew about five or six people who made comments. He said he does not recall any members of the public speaking at the 2011 hearing.