LIBERTY — Liberty Public Schools' board members unanimously approved maintaining an annual tax levy rate of $6.455 per $100 of assessed valuation. The total rate includes $4.5285 for operating costs, $1.5665 for debt service and 36 cents for capital improvements.
Total valuation of property within the district totals $1,069,787,061, up slightly more than 10 % from last year's $956,666,688.
From this, expected revenues are $65,662,799, up from last year's $58,998,013. Of the expected revenues, $1.7 million comes from new construction.
The rate has remained the same for two years. In accordance with the Hancock Amendment, which limits the revenue windfall tax entities may receive, to keep the same levy rate, LPS moved 29 cents from the operations levy to the debt service levy, according to Chief Budget Officer Cindy Sullivant, which is allowable by law.
Had the district not moved the amount into debt service, which is used only to pay debt such as the voter-approved bond issue from two years ago, the tax rate would be reduced by about that amount.