(Spirit Lake)– Property owners in the Spirit Lake School District will see an increase in property taxes next year.
The school board Monday evening voted to set the levy for the upcoming fiscal year at $11.07 per one thousand dollars of valuation…up 13 cents from the current levy of $10.94 per thousand.
Superintendent Tim Grieves says the increase stems from the need for the district to replenish its cash reserve, which had been drained over the last four days due to minimal state aid.
Grieves added the increased levy was necessary in order for the district to improve its solvency ratio…which had dropped to dangerously low levels just a couple years ago.
A public hearing on the proposed budget is set for 6:30 p.m. April 9th.
