Wood BOE approves Levy Order, appoints treasurer
Trending
PARKERSBURG -- Holding a statutory meeting Tuesday evening, the Wood County Schools Board of Education unanimously approved the Levy Order and Rate Sheet for the fiscal year 2022 and appointed Finance Director Whitni Kines treasurer for 2022.
According to Kines, the current expense levy will have a projected net taxes to be collected of $20,904,637. Kines said those rates are set by the state legislature, taking the district's assessed property rates and applying those rates to control how much state aid is given out.
Taking rates approved by the taxpayers in November of 2018 and assessing values and multiplying those rates, the excess levy's projected net taxes to be collected will be $20,219,947.
The bond levy rates will be reduced, with a projection of $3,570,300 net taxes to be collected.
"The bond levy rates have reduced. They're lower than they were last year. I think it's about a 6.2 percent reduction in the overall rate. That's because of the surpluses we have on hand with the municipal bond commission to pay for that," Kines said. "The assessed values went up, which is why our levy collections are higher than what they were in the prior years, and it's all based upon the property assessments."