Board holds public hearing on proposed 2025 budget; district presents $30.8 million estimate

The Lake Ridge New Tech Schools board held a public hearing Oct. 14 on the district's proposed 2025 budget and related tax-rate estimates. Mr. Wilkerson read the statutory Form 3 notice and the district's fund-by-fund estimates before the board closed the hearing after receiving no taxpayer comments.

Mr. Wilkerson said the total 2025 budget estimate is $30,811,667 and that the estimated school operations maximum levy is $4,102,336. He reported the property-tax cap credit estimate for 2025 as $3,070,000 and the maximum estimated funds to be raised via property tax as $8,275,227; he noted the current 2024 tax levy is $8,054,677. He also described the schedule for adoption and the procedure for taxpayer objections; if 10 or more taxpayers file an objection petition within seven days, the board must adopt the budget with findings responding to the petition.

After the notice and figures were read, the board solicited comments from the audience; with none offered, the vice president asked for a motion to close the hearing. A board member moved, a colleague seconded, and the motion carried.

The board is scheduled to adopt the 2025 budget at a meeting set for Oct. 28, 2024, at 6 p.m. at the district office at 611 West Ridge Road. The board and staff encouraged residents to review the full budget estimates at the unit's office as provided in the hearing notice.

What happens next: the district will proceed through its adoption process; taxpayers seeking to object must follow the filing instructions described in the Form 3 notice.