Please...take these projections with a grain of salt. The assumptions used are that the state economy and equalized aid picture doesn't change very much (which seems valid). It assumes a 3% increase in property value...which we think is pretty Pollyanna. Lastly, it assumes the district continues their spend-happy ways and increases its expenditures by 6%.
That being said...at least we can offer them. The school district holds this information very close to the vest.
- Budgeted Expenditures (up 6%) : $ 72.6M
- Projected state aid (44% of expenditures): $ 32.0M
- That leaves $40.6M of expenditures paid through general fund tax levy
- Then we have to add another $9.5M for debt service levy
- That makes for a total tax levy projection of: $ 50.1M
- Which translates to an increase of 13.2% over what was levied this year.
- That 13.2% is the "bounceback" being discussed.
...and it could be even higher due to costs associated with opening the new high school. - Assume the equalized value (of all property) rises 3% to $ 4,020,000,000 (which is a pretty optimistic projection)
- Mill rate is calculated as TAX LEVY divided by the EQUALIZED VALUE
- That translates to a mill rate of $12.47
...and it could be mnuch higher than that...if the equalized property value stays flat, the mill rate climbs to $12.86 per $1,000.
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