The New Ulm District 88 School Board held it’s annual Truth In Taxation Hearing Thursday evening. The school district’s property tax levy for 2012 is tentatively set to increase by only $32,300, or a .65% increase over this year’s levy. District 88 revenues for the current school year are approximately $21.9 million. A total of 16% of those revenues comes from local property taxes, with 78% coming from the state, 3% from the Federal government, and 3% from local sources and fees. No members of the public attended the tax hearing, which was followed by a regular school board’ meeting. The board approved the development of bid specifications to replace deteriorating underground pipes at Jefferson Elementary, and approved the purchase of a new tractor for lawn mowing and snow removal.