Merry Christmas! Your property tax levy for the Sibley East School District will decrease next year.
The Board of Education, Monday night, adopted the school district levy for $1,300,061, which is a $10,403 decrease from the $1,310,464 levy in 2009. The decrease reflects a .79% decline to the levy.
According to Superintendent Stephen Jones, Sibley East’s operating capital levy, which is used for equipment, building maintenance, and other capital expenses, will increase by $20,503. Funding is based on a legislatively-set formula, allocating total revenue between state aid and local taxes. The district’s property value is increasing, he said.
Sibley East’s lease levy, which is used to lease building space for instructional purposes, will drop by $17,680. The reason for the decrease, Jones said, is because the district renegotiated the lease cost for the modular buildings at the Arlington campus.
The district’s health and safety levy, which is used for state-approved capital projects related to health and safety, will also be decreasing by $13,350. The levy is decreasing because the district has scheduled fewer projects, Jones explained.
Sibley East’s levy is lower than neighboring districts because the district does not have any building project debt.
Area School District Tax Levies
Belle Plaine – $4.7 million
GSL – $2.339 million
LSH – $2.668 million
St. Peter – $2.551 million
NYA – $1.853 million
Sibley East – $1.3 million
In other business, the Board of Education:
• Approved a corporate authorization resolution for $1 million loan amount with First National Bank of Gaylord on an as needed basis. The initial term is for 18 months at an interest rate of 4.9%. The loan, if needed, would help with cash flow and interest is only paid on the amount borrowed.
• Approved the school board calendar for 2010. School board meetings will be held the third Monday of each month at 6:30 p.m. Exceptions are January and February, due to holidays. The January meeting will be held Thursday, Jan. 21 at 6:30 p.m. The February meeting will be held Tuesday, Feb. 16 at 6:30 p.m. A special meeting is also planed for Monday, Aug. 2 at 6:30 p.m.
• Appointed Mari Lu Martens as the local education agency representative for the Minnesota Department of Education report filing.
• Approved the new IRS mileage rate of 50¢/mile beginning Jan. 1.