The Atlantic School District’s Board of Education, Monday evening, passed a Resolution for a Voted Physical Plant and Equipment Levy (VPPEL) so it can be put on the September School Board Election ballot. Business Manager/Board Secretary Mary Beth-Fast, explained that in 2001, the School Board voted to limit the property tax asking to 85-cents per thousand dollars valuation, for the Voted PPEL, which is good for ten-years, which means it expired in 2012. At the same time the 85-cent rate went into effect, the School Board in 2001 elected to incorporate a 4-cent Income Surtax, which is normally found on your State of Iowa Tax return.
Mary Beth said an oversight meant language allowing the Income Surtax was not included the 2012 renewal, so the District missed out on the extra income. The Resolution passed Monday night means the Income Surtax component would be included in the current VPPEL, if the voters approve it in September.
She said the tax rate, while being left open for adjustment, would not be the maximum allowed, which is 20-cents. Mary Beth said the Board’s action means less of the money raised would come from property taxes, if the Income Surtax is approved in September. She says it will benefit property owners because the tax burden will be distributed to those who earn income, as well, whereas the Voted PPEL just generated funds through property taxes.
And, the Iowa Legislature last week, approved 1.25% in State Supplemental Aid to School Districts across the State. Mary Beth says for Atlantic, that equates to nearly $253,000, or $80 per pupil, since there was increased enrollment last year. The Legislature also approved $55-million in a one-time appropriation for School Districts, which means an additional $161,000 will be coming to the Atlantic District, for a total of $413,785.