The Princeton School District levy will drop at least 3.13 percent from the previous levy for the 2014-15 school year.
The School Board set the preliminary, or maximum possible, levy at its Sept. 24 meeting at $4.91 million. The current levy is $5.07 million.
The biggest reason for the decrease is because the state is equalizing more of the funding, according to district Finance Director Michelle Czech. Also, the debt levy is decreasing by $89,595, to end up at a little more than $2.56 million.
The community education levy is also dropping by $10,161 to total $238,402. The general levy part will be at a little more than $2.13 million, a decrease of $59,065 over this year.
The learning levy component of the general levy will be dropping $43,597 to total $767,805. The Princeton School District is in good financial shape because of having passed a referendum to renew a $1.5 million annual operating levy referendum in 2011, according to Czech. School districts that did not pass such a referendum will be forced now by the state to levy extra money for their general education levy, and the taxpayers in those districts will notice the change.
The public’s chance to give input on the levy will be at the Dec. 17 School Board meeting, which will begin at 7 p.m. The board will certify the final levy during the meeting.