Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board hears overview of capital project levy renewal, estimate shows potential tax impact
Summary
Jeff Seeley, a financial adviser with Ehlers Financial Advisors, briefed the Winona Area Public School District Board of Education on options for renewing the district's 2016 capital project levy and showed that renewing at the original 3.383% rate would likely generate about $1.67 million in the first year if the district levied its full authority.
Jeff Seeley, a financial adviser with Ehlers Financial Advisors, told the Winona Area Public School District Board of Education that the district's capital project levy (CPL) passed by voters in November 2016 is limited by the ballot language to technology expenditures and is levied on the district's net tax capacity (NTC) base rather than referendum market value (RMV).
"What a capital project levy is, it's it's a flow of funds through tax levy that comes into the district and you can use it on certain capital expenditures. Your particular case, it was limited to technology," Seeley said during the presentation.
The adviser explained the mechanics: a CPL establishes a tax rate (3.383% in the 2016 ballot language) applied to the NTC tax base. When the tax base grows, the levy can generate more revenue; the 2016 ballot included a conservative 10-year estimate of $1,000,000 per year but the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
