Created on Tuesday, 25 June 2013 Written by MANDY LOEHR
Riverside Board of Education members approved at their Tuesday evening meeting the first of two required motions to place a renewal income tax on the November ballot.
The board has proposed a 1.75 percent income tax levy, which represents a reduction from the current 2 percent income tax that district residents currently pay through two operating levies. These two levies will expire at the end of 2014.
While the current two levies generate about $1.3 million per year, the proposed five-year levy would generate about $1.144 million annually, said Treasurer Jennifer Blackford.
School officials said the reduction in the income tax levy is based on a fiscal responsibilty committment that was made to the community when the most recent levy received voter approval.
"This is something that you rarely see schools do," Ms. Blackford said of the income tax reduction. "We're trying to make a good faith effort on the promise that we've made the residents of the school district that we will be held to making good choices."
Members have issued a resolution of necessity for the income tax that would generate $1.144 million per year, and a request to certify this amount will be sent to the state tax commissioner.
Then at next month's meeting, the board will be able to take action toward actually placing the levy on the ballot.