School District of Platteville residents will vote on a school district tax levy that is lower than last year’s at the school district’s annual meeting Aug. 27.
The School Board Monday night approved the school district’s 2012–13 budget and gave preliminary approval to the tax levy.
The tax levy will result in a projected property tax mil rate of $11.13 per $1,000 assessed valuation, less than last year’s $11.29 per $1,000.
The owner of a $125,000 house would pay $1,391.25 in school taxes, down from $1,411.25 one year ago.
The 2011–12 budget of $15,282,587 is 1.16 percent more than the 2011–12 budget, largely because of enrollment increases from the closing of St. Mary’s School, said Director of Business Services Art Beaulieu. As of this week, the school district is projected to have 28 students more than in the 2011–12 school year.
The budget increase is offset by an increase in state equalization aid of 5.07 percent, which results in a proposed tax levy of $8,146,200, 1.39 percent less than the 2011–12 levy.
“The district is tied to the revenue cap — there is a predetermined amount of money the district can take in without going to referendum,” said district superintendent Connie Valenza. “The tax levy is much more a function of the amount of state aid contributed than what your costs are.”
“The budget and the levy are still dependent on [student] headcount on the third Friday in September, the October property value estimate, and the actual equalization aid for 2012–13 certified on Oct. 15,” said Beaulieu.
The 2012–13 mil rate represents the first decrease in the mil rate since the 2005–06 school year.
The annual meeting in the Platteville High School auditorium will begin with the budget hearing at 7:30 p.m., followed by the annual meeting at 8 p.m.