District 205 considers tax levy increase

205logobwAs the realities of a $2.6 million operating deficit set in, the Galesburg School Board began talks last night on a potential tax levy hike.

The board discussed the possibility of a 4.99 increase to the the tax levy, the max allowed without public referendum.

Giving a rough, early estimate, Superintendent Ralph Grimm said the board may agree to an increase between 2.5 and 3 percent. Grimm told WGIL it’s too soon to say what will happen.

“Honestly, we want to be transparent with the public,” Grmm said. “Yes, most districts can do a 4.99 percent increase and not have what they call a Truth in Taxation hearing, and that certainly could be an option that this board pursues, although I’m not going to predict tonight (Tuesday) what they’re going to to do. But we really do want to operate and be transparent. We started this conversation a month earlier than most districts do to give people an opportunity.

Grimm estimated a 4.99 percent increase would generate more than $900,000 in revenue.

When Knoxville raised its tax levy by 4.99 percent last year, the district proposed a seven cent increase to the city’s tax rate, from $4.54 to $4.61. Galesburg’s tax rate currently sits at $4.59.

The school board will hold two more meetings before final action is taken on a levy hike in December.

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