VERSAILLES – Versailles Exempted Village School District is seeking renewal of a 1 percent income tax levy on March 15.

“In 2004 it was 0.5 percent,” said Versailles Superintendent Aaron Moran. “In 2008 it was 0.75 percent. In 2012 it was 1 percent.”

Moran said the levy committee talked to the community about the needs of the school and the village before setting the amount for the renewal.

“We went out and talked to quite a few groups about where the levy should be at and decided to keep it at 1 percent for renewal,” Moran said.

The 1 percent income tax applies to school district income of individuals and estates. It would be in effect for four years, beginning Jan. 1, 2017.

Moran said the levy is on the March ballot because this is the first opportunity to renew. If it were not to pass, it would be placed again on the November ballot. Either way, collection would begin at the same time.

The superintendent said the levy provides about $1.875 million for current expenses, and it covers virtually all operating expenses for the year.

“We are very fortunate to have such strong community support,” Moran said.