CATLIN — School officials unveiled a preliminary property tax levy for the upcoming year this week that may generate an additional $106,000 in revenue for the district.
Superintendent Gary Lewis said he based his estimates on the assumption that the equalized assessed valuation of all property in the Catlin school district would increase by about 5 percent, although he said that was a very optimistic. His estimates are expected to change over the next month as new information about the value of property in the area becomes known.
Currently, the district generates about $2.13 million directly from local property taxes. The preliminary levy unveiled Thursday would generate about $2.23 million for the district.
Lewis said that a tax-levy increase was necessary to generate revenue for the district.
The current $4.78 million budget for the district includes a projected $400,000 deficit, but Lewis said that the school board typically adopts budgets that overestimate potential expenditures and underestimate potential revenues.
The board is expected to vote on the levy at its Dec. 12 meeting.