Loyal plans Nov. 8 school referendum info meetings
The Loyal Board of Education is giving residents three opportunities in the next few weeks to gather information on the proposed revenue cap exemption referendum that will be on Nov. 8 election ballots.
The Board has set special referendum infomational meetings for Oct. 19 and Nov. 1, with both sessions to start at 7 p.m. in the high school gymnasium. The public can also learn more about the referendum at the annual district meeting to be held on Oct. 24 at 7 p.m. in the high school gym.
In August, the Board approved a referendum question that will ask district property taxpayers for more than $1 million in additional taxes for each of the next five years, to fund normal school operations. The district is in the final year of a cap exemption referendum passed by voters four years ago. That question allowed the district to assess an additional $675,000 in local taxes in each of five years, but it will sunset after this year.
The new question to go to voters on Nov. 8 will ask for $1.1 million for the 202324 year, and then $1.4 million in each of the following four years.
If the referendum passes, the local property tax rate would increase slightly in the first two years, but then fall. Under the current $675,000 revenue cap exemption, the district’s tax rate is $6.77 per $1,000 of equalized value this year, and is expected to drop to $6.53 next year. With the new referendum, the rate would climb to $8.01 in 2023-24 and $8.21 the following year, but then drop back to $7.28 in 2025-26 and then $6.82 the year after that.
This referendum is for different purposes than the $11.7 million question that was turned down by Loyal voters in April. That question asked for money for facility renovation and expansion, while the Nov. 8 question seeks funds to allow the district to continue normal operations without cuts to staffing or programs. The state revenue cap formula does not allow small rural districts to collect enough in local taxes to fund desired operations, so they must ask voters for approval to raise taxes.
If this referendum passes, the Board should have enough funds to address some facility issues, such as paving of the elementary parking area, paving of the west-side parking lot and circle drive, and repair of the roof over the 1997 portion of the building.
