OZARK BOND UPDATE
$19 Million No Tax Increase Bond Issue & Levy Transfer
This week's update is all about Question 2. Stay tuned for future updates with details on Question 1 or visit www.ozarktigers.org/bond.
10 Cent No Tax Increase Levy Transfer
The no tax increase levy transfer will transfer 10 cents from our debt service fund to our operating expenses fund
In 2021 we were required to transfer 17 cents from our operating expenses fund to our debt service fund due to increased real estate assessments
We are required to ask the voters to transfer 10 cents back into our operating expenses fund
This transfer will provide approx. $500,000 annually to help offset rising operating costs
Shall the Board of Education of Ozark R-VI School District be authorized to increase the operating tax levy ceiling to $3.1853 per $100 of assessed valuation according to the 2022 assessment for operating expenses and funding capital projects of the District, including maintaining competitive compensation for employees to attract and retain qualified faculty and staff?
If this question is approved, the operating tax levy of the District is estimated to increase by $0.10 from $3.0853 to $3.1853 per $100 of assessed valuation, and the District expects to make a corresponding reduction to its debt service tax levy of $0.10 resulting in no tax rate increase where the estimated overall tax levy of the District remains unchanged at $4.1400 per $100 of assessed valuation.