Trustees raise tax rate, adopt budget

Levelland school board trustees approved a higher property tax rate Thursday with board President F.E. Shaheen voting against it.

Trustee Tania Moody made the motion to raise the rate from  $1.2467 to $1.3084 per $100 valuation. It passed 5-1.

ìI donít like to see taxes go up. If we could drop it a penny, I would be in favor of that,î Shaheen said.

Nick Williams, chief financial officer, told trustees the school district has over $500,000 reserved in a fund that could be used for debt service.

Williams said every penny of the districtís tax rate generates about $141,000 in revenue.

Earlier this month, trustees learned that property values for Levelland ISD had fallen from $1.834 billion last year to $1.422 billion this year. Most of that was due to falling oil prices.

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