Use of fund balance will cause decrease in tax levy
The Somerset Board of Education recognized the current difficult financial times and took a one-time step to lower the tax mill rate for the 2008-09 school year for Somerset School District residents.
By using $240,000 from the District's fund balance, the tax mill rate and tax levy will decrease this year.
The tax levy for the District for the 2007-08 school year stood at $7,859,637. This year's levy will be $7,772,015, a decrease of 1.11 percent.