During a recent government meeting, Mr. McKenzie presented a detailed overview of the 2024 tax levy, which is set to be paid in 2025. He emphasized the importance of understanding the levy process, particularly for those who may only engage with it annually. The levy represents the amount requested from the county to be taxed, based on the Equalized Assessed Value (EAB) of taxable properties, which is approximately one-third of the market value.

Mr. McKenzie outlined the timeline for the levy process, noting that an estimate of revenue must be submitted 20 days prior to the levy adoption. This year, a truth in taxation hearing is required due to the proposed levy exceeding 105% of the previous year's amount. The notice for this hearing has been published on the district's website and will also appear in local newspapers.

He projected a 7.5% increase in EAB for the upcoming year, which will influence the proposed levy. The discussion included specifics about various funds, including the education fund, which has a maximum levy rate of 2.7%, and the special education fund, which is capped at 0.04%. Mr. McKenzie explained that while the district requests higher amounts to ensure they meet the necessary funding, the actual amount collected often falls short.

The proposed total levy for the upcoming year is approximately $47 million, maintaining a similar rate to the previous year. Mr. McKenzie also addressed the district's cash balances, reporting $24 million in cash and $36 million in investments as of June 30. He highlighted a new requirement for districts with significant fund balances, which mandates a reduction policy if reserves exceed 2.5 times average expenditures.

The meeting concluded with a motion to approve the consent agenda and a subsequent motion to approve the payment of bills totaling nearly $9 million. The board's discussions reflect ongoing efforts to manage the district's finances responsibly while ensuring adequate funding for educational needs.