The Morgan County Board of Education voted to keep the school levy at its existing rate for the upcoming tax year.
Morgan Couny taxpayers pay a school levy rate of 38.8 cents per $100 of valuation on their property and a school excess levy rate of 32.16 cents per $100 valuation on Class II residential property. Owner-occupied homes are considered Class II properties.
Tax rates for Class III and Class IV properties are set at 77.6 cents per $100 value.
Class III properties are commercial and all other properties located outside of municipalities. Class IV properties are commercial and all other properties inside of municipalities.
The special levy is estimated to raise $5,196,193 in projected net taxes for Morgan County Schools for Fiscal Year 2025. That’s $237,810 more than last year’s projected amount.
The regular state school levy is estimated to bring in $6,143,660 in projected net taxes for Morgan County Schools—some $281,176 more than last year’s projection.
Projected revenue is minus allowances for uncollectables, exonerations, delinquencies and discounts.
The total estimated revenue from the combined regular school levy and the special levy is $11,339,853. That figure is $518,986 more than last year’s projected revenue.
A school board budget work session will be held at the Tuesday, May 7 regular meeting scheduled for 6 p.m. at the school board office. The school budget will be approved for publication at that meeting.
A budget hearing is set for Tuesday, May 21 at the school board office at 6 p.m. The school board will adopt the budget later during that meeting.
