WESTVILLE — School officials have unveiled a tentative property tax levy for the upcoming year that may generate an additional $102,000 in revenue for the district.
School Superintendent Jim Owens said that he based his estimates on the assumption that the equalized assessed valuation of all property in the Westville school district would increase by about $500,000 — from about $46.5 million to about $47 million. His estimates may change over the next month as new information about the value of property in the area becomes known.
Currently, the district generates about $2.23 million directly from local property taxes, with a tax rate of about 4.95 cents per $100 of assessed valuation. That means that the owner of a $60,000 home in the district with no exemptions pays about $990 in property taxes directly to the district.
The tentative levy unveiled this week would generate about $2.33 million for the district, using a tax rate of about $4.97 cents per $100 — an increase of about $4 for the owner of a $60,000 home with no exemptions.
The school board is expected to vote on the tax levy at the Dec. 18 meeting.