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Lakota board seeks certification for 0.75% earned-income tax estimate; bond and earned-income options debated
Summary
The board discussed options to finance roughly $223.48 million in facility needs over 37 years and approved a resolution to request certification of estimates for a 0.75% earned-income tax (a non-binding step to obtain figures). Treasurer Adam Zink outlined tax and term differences between bonds and an income tax.
The Lakota Local Board of Education discussed multiple financing options for district facilities and approved a resolution to request certification of estimates for a 0.75% earned-income tax.
Treasurer Adam Zink outlined the options: a bond issue sized to match maturing debt (roughly $223,480,000 financed over a 37-year schedule at an equivalent 2.23 mills) or an earned-income tax-backed financing (a certificate of participation model with a shorter 27-year financing term). Zink provided taxpayer examples and cost estimates, saying a $350,000 home would see roughly $273.18 per year under the bond scenario. He described the 0.75% earned-income tax as a proposal to be estimated and certified by county/Department of Tax authorities, not as a final commitment.
Board members debated whether to seek one combined measure or separate building and operating questions. One board member warned a continuing earned-income tax could provoke strong community reaction. Another argued the flexibility of the earned-income option would provide $32 million annually and allow investment in student opportunities and operational solvency.
Several motions proposing alternative levy structures failed for lack of a second. The board then approved a resolution to request certification of the estimated 0.75% earned-income tax figures; that step sends the district’s requested figures to county and state officials so the board can later decide what, if anything, to place on the ballot.
The resolution passed by roll call with a recorded 4–1 majority: Treasurer/Clerk Adam Zink recorded yes votes from Miss Schaefer, Mister Horton, Mister Argo and Miss Casper; Mister Wynne voted 'no.' Board leaders emphasized that approving the resolution tonight does not place a tax on the ballot—it only seeks certified estimates to inform future decisions.
