SPS board approves decreased tax levy rate

The Springfield Public Schools Board of Education this week voted in a 2015 tax levy that’s slightly below last year’s rate.

During its Aug. 18 meeting, the board gave the green light to a tax levy of $4.07 per $100 of assessed valuation, or three-thousandths of a cent lower than the tax year ended July 30. A public hearing was held immediately prior to the vote, according to a news release.

Under the new tax rate, owners of homes valued at $100,000 would pay $773.17 in taxes per year to fund SPS operations, down from $773.66 in the recently ended tax year. Those with a vehicle valued at $10,000 would pay $268.57, an 18-cent decrease, according to data provided by SPS.

The approved rate of $4.07 allocates roughly $3.52 for operating funds and 55 cents for the district’s debt-service fund, according to the release.

With its Greene County assessed value of $3.4 billion and an operating budget from taxes of $118.1 million, SPS is planning new construction of $41.5 million during the tax year.

The SPS board is required to file the tax levy with the county clerk by Sept. 1. The levy is calculated based on assessed property values provided by the clerk and the Consumer Price Index, according to the release.