The Princeton R-5 Board of Education approved the proposed tax rate for the 2018-2019 school year at a hearing Monday evening prior to its regular board meeting.
The total tax rate was set at $507.48 cents per $100 assessed value, which is an increase of .33 cents from last year. The total tax rate includes $3.9416 cents for incidental, 95.32 cents for debt service, and 18 cents for capital projects.
The board voluntarily rolled back the debt service levy to maintain its promise of a no tax increase bond issue passed in April 2017. The state auditor’s computation of the debt service was $1 and 57.43 cents. The district voluntarily reduced the levy.
During the regular meeting, the board approved officially naming the new all-weather track Jim King Track. King was a Hall of Fame track coach at Princeton for more than 40 years. The board received numerous letters of recommendation to name the track in his honor. The track is expected to be completed in the next six weeks.
The board approved the senior class’s request for open lunch for the 2018-2019 school year. The Conflict of Interest Ordinance, Resolution, and Policy was also approved and Dennis Gutshall gave a construction update. On behalf of the board, President Rick Ellsworth complimented Gutshall for his efforts with the project.
There was no announcement made from a closed session.