MASON CITY – The Mason City School Board met Monday evening and discussed funding options for the future.
Citing state mandated funding cuts, School Superintendent Anita Micich said she is “worried” about the future and how the district will “pay the bills.”
According to the discussion held Monday, state cuts will continue to lower the tax rate Mason City property owners pay, from about $15.11 per $100,000 of valuation in 2011-2012 to $13.31 in 2012-2013 and further to $11.44 next year, costing the district millions.
“Your tax reserves are starting to dwindle,” Micich stated. “That’s a very low tax rate.”
The board discussed two levy options, a Physical Plant and Equipment Levy (PPEL) and an Instructional Support Levy (ISL). A PPEL must go before the voters; an ISL can be imposed by the school board.
Special elections could be held later this year on the PPEL. The revenue generated even if both levies are approved would still be below the old tax rate of $15.11.
The board will make its decision on which levies to pursue in the near future.
Watch video of discussion: