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Lebanon R-III board sets total levy at $4.49 per $100 after public hearing
Summary
After a required public hearing on the tax rate, Lebanon R-III finance staff presented assessed valuation figures and the board voted unanimously to set the total levy at $4.49 per $100 of assessed value, maintaining the district's voter-approved total.
The Lebanon R-III Board set the total property tax levy at $4.49 per $100 of assessed value after a required public hearing on the district's tax rate. Finance staff walked trustees through the state's pro forma calculation and the district's assessed valuation before the board voted.
"The 1st component is the assessed valuation — our real estate assessed valuation is $273,310,009.60," the finance staff explained, summarizing the figures used in the tax-rate ceiling calculation. Staff described separate ceilings for operating funds and debt service and how the ceilings translate to the district's operating/incidentals and teacher funds.
Board members asked clarifying questions about small year-over-year differences and how the state auditor's ceiling calculations interact with voter-approved limits. The motion to set the levy at $4.49 — described in the motion as 2.8364 for the incidental/operating component and 0.80 (80¢) for the teachers' fund with the remaining debt-service component making the total $4.49 — passed unanimously (recorded as 7–0).
