The Warren County R-III School Board voted last week to raise its annual tax levy by 2.08 cents per $100 assessed valuation for the 2013-14 school year. Following a public hearing, the board voted 5-1 to set the tax levy for the current school year at $4.1315 per $100 of assessed valuation.The 2012-13 tax levy was $4.1107.“Total 2013 aggregate assessed valuation for the school district is $258,684,538, compared to $257,396,746 last year, for an increase of $1,287,792,” Financial Director Tony Chance told the board.The district will levy $3.51 for operations, which includes the general fund, teachers’ fund and capital projects fund.Last year’s operations levy was set at $3.49.The debt service levy remains at 61 cents, which school leaders said earlier is well below the 77 cents the district is allowed to levy, but sufficient to sustain the district’s current debt.“A homeowner whose house has a $100,000 market value and assessed at 19 percent would see a levy increase of $3.95 over the previous year,” said Chance.The breakdown by fund is as follows: $3.4312 for the operations fund, 61.89 cents for the debt service fund, and 08.14 cents for capital improvements. The teacher fund levy is 0.Each penny of the levy generates about $25,900 for the school district, Chance said.“Estimated revenue for a $4.1315 levy would be $10,683,400,” said Chance. “This would be an increase of $106,744 over last year.”Board members Teresa Scott, Beth Banze, Bill Hawley, John Bradshaw and John Clinger voted for the tax levy increase. Jan Sutherland voted no.The motion was made by Bill Hawley. Board member Lisa Waltrip was not in attendance.Each tax rate is determined by dividing the amount of revenue needed by the current assessed valuation. The result is multiplied by 100 so the tax rate is expressed in cents per $100 valuation.Board VacancySeparately, Superintendent Jim Chandler announced that board member Lisa Waltrip had submitted her resignation from the board citing other pressing time commitments.The board voted to accept Waltrip’s resignation.Individuals interested in filling the vacant position have until Sept. 10 to submit a letter to the secretary of the board stating their qualifications and reasons for wanting to be on the board.Waltrip’s term ends April 2014. Qualified candidates will be interviewed during the Sept. 12 board meeting.R-III School Board votes to raise its annual tax levy