HOWARD — On Wednesday, the East Knox school board took steps to somewhat relieve the property tax burden on school district homeowners. It passed a resolution declaring its intent to stop collecting part of the permanent improvement money voters previously approved. If the emergency operating levy passes in May, the resolution states, the board will cease collection of three-quarters of a mill from the permanent improvement levy passed in 2008.
Treasurer Jessi Busenburg said the effective rate for the permanent improvement levy is currently 2.71 for residential and agricultural property. It was originally passed for 3 mills.
“We will ask the county auditor to reduce it by 0.75 mills if the levy is successful,” Busenburg said. “This would decrease the voted millage from 3 to 2.25 mills for the next five years. Currently, the 2.71 mills cost a residential property owner of a $100,000 home $94.85 per year before any state rollback or homestead reductions. After the 0.75 reduction in millage, the cost would be $68.60. This is approximately a $26.25 savings. The board will also ask Knox County Auditor Jonette Curry to reduce the bond retirement millage by 0.25 mill. Overall, there will be a total reduction of 1 mill in current millage if the levy is successful. This is approximately $30 in savings per $100,000 in home valuation.”