Truth in Taxation
Superintendent Foucault presented the Truth in Taxation report on December 3, 2018, to the School Board and the public. ISD 885 School Board members certified the Levy Payable 2019 at the meeting. State law requires that the district present information on the current year budget and actual revenue and expenditures 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 2019 increased $994,490 to $14,560,273. In comparison to last year, the general education levy increased $516,819 or 11%, community education increased $21,833 or 6.68%, and debt service increased $445,838 or 5.34%.The overall levy increased by 7.33% compared to 8.6% in Taxes Payable 2018.
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.