LEWISBURG —Tri-County North Local School District will be going to voters on the May ballot for two tax levy renewals.
During the TCN Board of Education meeting on Monday, Jan. 28, the board approved three resolutions for the two upcoming levies.
The first resolution was for the purpose of providing funds for current operating expenses, in order to provide for the emergency requirements of the School District, in the amount of $342,000 per year for a 10-year period commencing in 2019, first due in calendar year 2020.
The Preble County Auditor has certified to the board the total tax valuation of the school district is $136,849,730 and that the estimated average annual levy required through the life of the levy to produce the annual amount of $342,000 is 2.6 mills for each $1 of valuation, which amounts to $0.26 for each $100 of valuation.
Next, the board approved two resolutions for the same renewal tax levy. One option states the levy will continue for a 10-year period, while the other option states the levy will continue for a 5-year period.
Superintendent Bill Derringer explained, the state must approve the levy for a 10-year period. If it does not, then the board will accept the wording for a 5-year period, but both options had to be approved at this board meeting.
The first of the two resolutions would renew an annual income tax of one percent on the earned income of individuals residing in the school district, to renew an income tax expiring at the end of 2019 for a 5-year period of time, beginning Jan. 1, 2020.
The second resolution would renew an annual income tax of one percent on the earned income of individuals residing in the school districts, to renew an income tax expiring at the end of 2019 for a 10-year period of time, beginning Jan. 1, 2020.
“The state has not given us the indication whether we can run this for up to 10 years — that is what we would like to do. For all our other renewals now, the emergencies — we’ve taken all those and run those for 10 years. We tell our community, the reason we want to do it for 10 years is so we are not on the ballot every five years,” Derringer said.
“If we can [run the levy for 10 years], we would like to. If we can’t do this, then we will go back to running it five years, which would be a normal renewal. Again, if we don’t do both of these tonight, then we’ve missed the boat on whatever one we don’t do, because we will miss that deadline. If we do these tonight, we will drop off the one we decide not to do.”
