Royal Valley board proposes slight mill levy increase

The Royal Valley Board of Education is proposing a slight mill increase to fund the district’s 2023-24 budget.  The increase is expected to collect an additional $187,531 in taxes for the district.

During the Royal Valley Board of Education meeting on Monday evening, board members approved a proposed budget for publication funded by 45.230 mills, which is an increase of 1.984 mills from the 43.246 mills used to fund last year’s budget. The board budgeted 44.691 mills during the 2021-22 school year.

The board’s proposed budget includes levying 20 mills for the general fund, 17.230 mills for the Local Option Budget (LOB) and 8 mills for capital outlay. 

For the 2022-23 budget, the district levied 20 mills for the general fund, 15.246 mills for the LOB and 8 mills for capital outlay. 

The proposed budget is expected to generate a total of $1,773,088 in local taxes, compared to $1,585,557 last year.

The proposed budget includes a total of $18,783,368 in maximum budget authority for the school year, including $8,062,451 in the general fund, $2,575,071 in the supplemental general fund and $1,750,000 in capital outlay.

For the new school term, the district’s assessed valuation has been set at $42,356,015, which is a $2,588,328 increase from last year’s $39,767,687. 

The board of education recently secured a new $5.3 million lease purchase for a new two-story addition at the high school, as well as renovations to the middle school office and library.

The board approved a motion to publish the proposed budget, and it appears on page 10 of this issue of The Holton Recorder.  

A hearing allowing the district to exceed the revenue neutral tax rate has been set by the board for 7:15 p.m. on Aug. 28 at the district office. Following that hearing, the board will hold another hearing at 7:20 p.m. to consider approving the budget. 

For more on this and other stories, please log in to your holtonrecorder.net account and select “Aug. 16, 2023” under “E-Editions.”