1. Tax Hearing FY 2015-16 August 4, 2015

2. Truth-in-Taxation Process

3.  June 1  Proposed FY 2015-16 budget made available  June 16 – Budget Hearing  Tentative FY 2015-16 budget approved  Tentative tax rate set (exceeds certified rate by 0.000178)  Newspaper advertisements (1/4 page tax increase ad)  SL County consolidated  Granite School District (July 28, 2015) Truth-in-Taxation Process

4.  Salt Lake County  Mailed property tax notices  www.propertytax.slco.org www.propertytax.slco.org  August 4, 2015 – tax hearing Truth-in-Taxation Process

5. Granite Budget and Tax Rates

6. GSD Budget Estimates – FY 16 DescriptionAmount WPU increase – 4%$8,167,806 Voted/Board levy guarantee (SB 97)4,708,182 All other unrestricted state line-items343,558 Employee turnover savings965,517 Property tax growth783,740 Total preliminary new revenue$14,968,803 Estimated Revenue Changes (Unrestricted):

7. GSD Budget Estimates – FY 16 DescriptionAmount URS contribution rate (no change in rate)$0 CTE Maintenance of Effort (2,780 ADM x $111 WPU increase)-308,580 Charter school levy offset ($1.79 million to $2.65 million)-859,119 Total required spending increases-$1,167,699 Required Spending Increases:

8. GSD Proposed Tax Rate Adjustment - FY 16 DescriptionAmountRateHomeBusiness Charter school local replacement (0.5% increase in tax revenues) $859,1190.000040$5.17$9.41 Tax on $235,200

9. GSD Budget Estimates – FY 16 DescriptionAmount Step increases ($4.3 million total)-$3,441,173 Health insurance ($2.1 million total)-1,638,559 COLA - 4%-8,990,664 Total negotiation/contractual considerations-$14,070,396 Negotiation/Contractual Considerations:

10. GSD Budget Estimates – FY 16 DescriptionAmount Estimated revenue changes$14,968,803 Required spending increases-1,167,699 Proposed tax rate increase (charter school funding)859,119 Negotiation/contractual considerations-14,070,396 Program “enhancements”-589,827 Balance$0 Summary:

11. GSD Proposed Tax Rate Adjustment - FY 16 DescriptionAmountRateHomeBusiness Legislature: SB 97$7,526,5520.000342$44.24$80.44 Granite School District Budget: Charter school local replacement$865,1210.000040$5.17$9.41 Debt Service-$2,984,667-0.000138-17.85-32.46 Capital Outlay$2,984,6670.00013817.8532.46 Tax on $235,200

12. GSD Proposed Tax Rate Adjustment - FY 16 DescriptionAmountRateHomeBusiness Legislature: SB 97$7,526,5520.000342$44.24$80.44 Granite School District Budget: Charter school local replacement$865,1210.000040$5.17$9.41 Debt Service-$2,984,667-0.000138-17.85-32.46 Capital Outlay$2,984,6670.00013817.8532.46 Tax on $235,200

13. School District Property Taxes Tax on $235,200 Value DistrictTax RateHomeBusiness Nebo0.009326$1,206$2,193 Davis0.0085551,1072,012 Alpine0.0081771,0581,923 State Average0.0071959311,692 Canyons0.0069979051,646 Granite0.0069789031,641 Jordan0.0068728891,616 Salt Lake0.0064978401,528 School Year 2015-16

14. Property Tax Notices

15.  Mailed by S.L. County Auditor’s Office  S.L. County Assessor’s Office  Sets market value  Granite Board of Education  Establishes budget and tax rate for the school district  Other taxing entities  County, city, library, mosquito abatement, special improvement, etc. Your Property Tax Notice

17. GSD Totals$903.44$833.69$880.40$23.04 SB 9744.27 Cert rate/value changes20.30 Debt service reduction-17.86 Certified rate$880.40 Charter schools5.18 Capital Outlay17.86 2015 – GSD total$903.44

18. GSD Totals$903.44$833.69$880.40$23.04 SB 9744.27 Cert rate/value changes20.30 Debt service reduction-17.86 Certified rate$880.40 Charter schools5.18 Capital Outlay17.86 2015 – GSD total$903.44

19.  If the market value shown on the property valuation notice is higher than what you think your property is worth, you should appeal to the Board of Equalization  Appeal form and instructions available at:  slco.org/propertytax/ slco.org/propertytax/  Deadline for appeal is September 15, 2015 Salt Lake County Board of Equalization

20.  Apply through the SL County Treasurer  slco.org/propertytax/ slco.org/propertytax/  Low income homeowners age 65 or above  Indigent tax abatement for homeowners of any age who are unable to pay due to hardship or disability  Disabled veterans  Blind exemption  Deadline for application is September 1, 2015 Statutory Tax Relief (SL County Treasurer)

21. Adopt the 2015-16 budget Set the tax rate at 0.006978 Recommended Action

22. Board Discussion

23. Public Comment

24. Adopt the 2015-16 budget Set the tax rate at 0.006978 Recommended Action