Truth in Taxation
Superintendent Foucault presented the Truth in Taxation report on December 5, 2016 to the school board and public. ISD 885 School Board members approved the pay 2017 tax levy at the meeting. State law requires that the district present information on the current year budget and actual revenue and expenses for the prior year. State law also requires that the district present information on the proposed property tax levy, including the percentage increase over the prior year and specific purposes and reasons for which taxes are being increased.
The Levy Payable 2017 increased $564,210. The general education levy increased $492,958 (12.8%) while the community education levy decreased $5,981 (-1.9%). The debt service levy increased $77,233 (1%). The overall levy increased 4.7%.
Changes in the levy can be attributed to an increase in enrollment, change in property values, and an increase in state formula allowances. An increase in the levy does not always correlate to an equal increase in the budget because in some cases the state funding formula resulted in a shifting of revenue from state aid to property taxes.
Click here to view the December 5, 2016 Truth in Taxation presentation.