Decorah District tax asking will drop
Thursday, March 16, 2017 10:27 AM
Homeowners in the Decorah School District will pay less school property taxes in the coming year.
At Monday’s meeting, the Decorah School Board set a public hearing on the 2017-2018 school budget for Monday, April 10, at 6 p.m.
The tax rate is dropping by 58 cents, from $14.74 to $14.16 per $1,000 of taxable valuation in the coming year.
“This is due primarily to a decrease in our cash reserve levy and possessing a very adequate balance in the management levy, allowing us to decrease that amount as well,” said Superintendent Mike Haluska.
“We were also able to raise our income surtax rate for the Instructional Support Levy from 6 percent to 7 percent, greatly reducing the property tax asking for that levy.”
Haluska said the District’s taxable valuation increased from $584,624,775 to $600,054,702, an increase of $15,429,927.
In a related matter, the Board passed the school budget guarantee, which ensures the school district’s authorized spending limit will be no less than the prior year.
Funded by District property taxes, the budget guarantee dictates that districts suffering from lower enrollment have a spending limit equal to the previous year.
According to District Business Manager Cathy Dietzenbach, last year’s budget guarantee will mean an additional $234,000 for the District.
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