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2014-2015 Property Tax Levy Meeting School District of Greenfield.

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Presentation on theme: "2014-2015 Property Tax Levy Meeting School District of Greenfield."— Presentation transcript:

1 Property Tax Levy Meeting School District of Greenfield

2 The majority of school district revenue is obtained through two sources:  State Aid  Local Property Taxes State Budget Impact

3 The total amount of revenue generated from these sources is statutorily restricted by the revenue limit calculation, established in When state aid is increased, property taxes are reduced; conversely when state aid decreases, property taxes increase. State Budget Impact

4 $75 per pupil increase included in the revenue limit and $150 per pupil in categorical aid WI ACT 46 signed into law on October 20, 2013 increased aid to school districts statewide in an effort to provide tax relief to constituents.  had a second certification, increasing the total aid to the District State Budget Impact –

5 Proposed Tax Levy The final levy is determined using the revenue limit calculation. Two critical pieces of information are:  3 rd Friday Count in September  State Aid Certification

6 Proposed Levy Final figures for the District’s two critical pieces of information:  Third Friday count enrollment The District saw an increase of 16 FTE (Full time equivalent ) students from what was originally budgeted This impact, coupled with a membership audit equated to an increase of 61 FTE to the three year rolling average This equates to an increase in Revenue Limit spending authority of $702,068.  DPI Certification of General Aid July 1 estimate - $1,027,463 or 8.36 increase over Oct 15 certification - $157,651 increase to July 1 estimate Total increase from = $1,185,114 or 9.64%

7 Projected Mill Rate The assessed valuation for the School District of Greenfield has increased.72% from to present. At the time of the annual meeting, the District was projecting a flat valuation.

8 Proposed Assessed Value Mill Rate % Assessed Value 1,984,698,464*1,999,036,801.72% Assessed Mill Rate $11.65$ % * Certified Valuation

9 Proposed Levy % Change Fund 10$17,888,260$17,662, % Fund 38/39$4,955,684$4,877, % Fund 80$270, % Total$23,114,823$22,810, %

10 Proposed Tax Impact.72% in Assessed Value Difference Home Value $ 100,000 $ - Assessed Mill Rate $ $ $ 0.24 School Property Taxes $ 1,165 $ 1,141- $ 24

11 Tax Levy Summary General Fund increase of $1,185,114 additional state aid or 9.64%  General Aid = $13,479,269  State Aid to High Poverty Districts = $183,059 Second year Tax levy decrease of -$303,925 or -1.31% Total All Funds Property Tax Levy is:  $22,810,898 Fund 10 = $17,662,474 Fund 38/39 = $4,877,545 Fund 80 = $270,879

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