AUSTIN, Minn. (FOX 47) -- The boards for Austin Public Schools board and Albert Lea Area schools approved preliminary 2013 property tax levies Monday night.
The Austin Public Schools Board passed a proposed levy of about $7 million. That's about $224,000 less than last year.
But a lower levy doesn't necessarily mean the school district will receive less money.
"Because we are a growing school district, what it means is we're going to receive more state aid but the levy is going to go down," said Mark Stotts, Austin Public Schools finance and operations director. "So, overall, it's good news for both the taxpayers and the school district."
In Albert Lea, the school board approved a proposed levy of 5.7 percent.
Superintendent Dr. Michael Funk said the district is trying to keep the rate as low as possible by refinancing some of its bonds.
He said that will save the district about $200,000 dollars a year for 5 years.
"The taxpayers are going to get a statement that says 5.7 percent is the proposed levy," said Funk. "The actual levy based upon the sale of the bonds that will occur in a few weeks should be about 3.3 percent."
The levy will pay for a multi-million dollar heating and ventilation project in the district.
All Minnesota school districts must finalize their property tax levies by the end of December.
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