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Odessa R‑VII board approves 2025–26 tax levy, shifts operating rate into debt service
Summary
At its August meeting the Odessa R‑VII School District Board of Education approved a total levy of 4.7285 per $100 of assessed valuation for 2025–26, moving part of the operating rate into the debt‑service fund under the Hancock Amendment. Board members said the change preserves the district’s total levy while reallocating revenues to debt obligations.
The Odessa R‑VII School District Board of Education approved the district’s proposed 2025–26 tax levy at its August meeting, accepting a total rate of 4.7285 per $100 of assessed valuation.
Finance staff said the levy is composed of an operating rate of 3.3136, a debt‑service rate of 1.3149, and a 10¢ capital levy. “We are rolling back the operating fund tax rate and moving it into the debt service fund,” finance staff stated, describing the shift as a compliance step tied to the Hancock Amendment that allows the district to maintain the existing total levy.
The board moved to formally adopt the tax‑rate information after staff presentation; a motion, second and an 'all in favor' were recorded and the board approved the levy as presented. The transcript does not record individual vote names or a roll‑call tally.
Why it matters: the reallocation changes which fund collects the revenue (moving some dollars from operating to debt service) but, according to district staff, preserves the district’s overall levy amount. That affects how revenues are recorded and used for bond payments and capital planning while limiting an immediate increase in the district’s total property‑tax rate.
District staff also reminded the board of related financial deadlines and processes: the draft ASBR (Annual Secretary's/Business Report) will be submitted to the Missouri Department of Elementary and Secondary Education (DESE) by Aug. 15, and the district audit is scheduled on site for Aug. 26. Finance staff earlier recommended, separately, consideration of a $1,275,000 prepayment on a Series 2021 general obligation bond to reduce future interest costs, a recommendation presented to the board for later consideration.
