The Woodland School District 50 Board of Education has approved a $71.5 million tax levy for 2012, which is an increase of $1.8 million or 2.88 percent over last year.
The 2012 levy was approved at a public hearing on Nov. 27.
Robert Leonard, the district's associate superintendent for business, said the $71.5 million levy amount, which includes bond and interest, was determined to capture any unknown or new assessed value.
"We expect the actual extension to be $65,815,897," he said.
In 2011, the district levied $69.4 million and was extended $63.9 million.
The district levies taxes in accordance with the state property tax extension limitations act as part of its strategy to move closer to a balanced budget, said Leonard. Declining state revenues were also a factor in the decision.
"To reduce operating costs, the district had taken action to freeze staff wages in fiscal year 2012 and has reduced staff each year for the last three years. We will continue to review every area of our budget to look for operational savings that have the least impact on student learning," said Leonard.
The district's EAV (Equalized Assessed Valuation) for 2012 is estimated at $1.62 billion, with $5 million of that considered for new construction. The EAV has decreased 5.71 percent or $98.5 million over 2011.