MATTOON — The Lake Land Board of Trustees during Monday night’s meeting agreed to a $9.42 million 2012 tax levy, which officials estimate is about a 4.9 percent increase over last year’s levy.
Vice President for Business Services Ray Rieck says a public hearing was not required because the increase over the 2011 levy year was estimated at less than 5 percent.
“We won’t know the actual 2012 rate until the EAV’s (equalized assessed valuation) are determined by the 15 counties in the district, probably around the May or June timeframe,” Rieck said during the meeting.
A levy is a local government’s request for property tax revenue based on the estimated EAV of property within its district, 15 counties in the case of Lake Land. The tax rate is the resulting percentage that is applied to this property.
Lake Land’s 2011 levy rate was about 50 cents per $100 EAV, according to the school records. This is about 5 percent of the individual resident’s total tax bill, according to the school’s documents. Last year, the board approved a $9.37 million levy.
The requested levy anticipates to collect $4.18 million for educational purposes; $775,500 for operations and maintenance; $1.8 million for additional educational and operations and maintenance; $1.132 million for tort immunity; $318,000 for Social Security and Medicare insurance; $107,000 for financial audit needs; and $1.1 million for protection, health and safety purposes.
In other business during Monday’s meeting the trustees:
-- Approved the $7.9 million Northeast building energy savings project. Control Technologies and Solutions of St. Louis will renovate the building and add ground source heat pumps in Neal Hall and Luther Student Center.
-- Agreed to issue a $2.2 million general obligation bond to pay for the new fitness center. The note will be repaid with a $1.50 per credit hour service fee.
-- Agreed to sell $5.4 million in bonds to pay off notes for the Webb Hall renovations. No one made a comment during a hearing regarding the sale.
-- Entered into closed session to discuss properties in Mattoon and Effingham and a leased parking lot for use in Marshall within the commercial driver’s license program.
-- Approved a workers’ compensation plan renewal with Bushue Human Resources and Illinois Public Risk Fund. The renewal premium for the new year will increase by 27.13 percent — an increase in premiums from $164,300 to $208,000. The increase was caused by a nearly 10 percent increase in payroll and a rate increase.
-- Accepted a $7,000 grant for the dental hygiene clinic to purchase pediatric X-ray equipment. The clinic serves about 255 children annually,
-- Accepted an articulation agreement with the computer science program at University of Illinois at Springfield.
-- Learned Lake Land is the 12th fasting growing two-year school in the country with student enrollment between 5,000-10,000, according to Community College Week magazine.
Contact Zyskowski at email@example.com or 217-238-6869.