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Contact: Margo Nash |
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Media Release |
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FOR IMMEDIATE RELEASE Edina School Board Approves Proposed 2012 Levy
Edina, Minn., Sept. 26, 2011 – The Edina School Board tonight approved the proposed tax levy for property taxes payable in 2012. The preliminary approval at the maximum amount also directs administration to review all funding sources for possible reductions in the levy before final Board approval in December. The proposed levy for 2012 is 4.86 percent less than last year, though it includes the sunset of two locally approved levies due to expire in 2012. The renewal of the operating levy and the renewal and increase of the capital levy are scheduled for a referendum vote on November 8, 2011. The Minnesota Department of Education will change the District’s levy authorization to reflect the results of the referendum vote before final levy approval in December. The Board also approved a resolution to refinance its school building bonds, which will result in $5.7 million in interest savings over the next ten years. The $523,000 in annual District savings will begin with taxes payable in 2013 and result in a decrease of approximately $26 per year on a median-priced $400,000 Edina home. “We’re doing our best to continue to provide students with what they need to be competitive in a global world while not overburdening our local taxpayers,” noted Margo Nash, Director of Business Services for Edina Public Schools. “While the proposed levy approval may be routine Board business, we’ll look very carefully for opportunities to reduce it between now and December.” School levies are based on a number of factors that include property values, the number of students enrolled in the school district and the total amount of state aid. The final impact of recent legislation on state aid for Edina Public Schools in 2012 is still being reviewed. Final state calculations for levy and aid will help determine the final levy amount in December.
About Edina Public Schools ###
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