(Estherville)– The board of trustees of Iowa Lakes Community College Tuesday adopted a budget for the upcoming fiscal year that contains a slight increase in the property tax asking. The rate per thousand dollars valuation will go frm 73 cents currently to 75 cents for the 2009 fiscal year.
The budget totals 38.37 million dollars. College officials say of that, less than four percent comes from property taxes.
They add the budget reflects a slight increase in property valuations in the college’s five-county area that will generate additional funds for the general and plant fund as well as equipment replacement funds.
College officials say the slight increase in property tax askings is due in part to a previously approved early retirement program.
Trustees voted to adopt the budget following a public hearing Tuesday.
