Taxpayers in the Oconto Falls School District will pay less than 1 percent more in taxes than a year ago, despite the additional funds approved by voters in an August referendum.
The Oconto Falls School Board on Nov. 3 certified the tax levy at $8.7 million. The impact on the mill rate is an increase of 0.6 percent over the previous year or an increase of 7 cents per $1,000 of equalized property value. The original projection was an increase of 24 cents per $1,000, as a result of the referendum.
The school tax on a piece of property valued at $100,000 will be $1,064.
According to District Administrator Dave Polashek, the change was the result of several factors. The district received a better interest rate on its bonds and more state aid than anticipated. In addition, equalized value increased in the district, spreading the tax levy over a higher total value which lowered the individual parcel impact.
A sports complex, renovations at Abrams Elementary School and parking lot repaving were part of a $2.2 million referendum proposal, to be paid with a long-term bond. A second referendum will provide an additional $400,000 each year for three years, beginning with the 2014-15 school year, for technology, teacher incentives and roof repair.
The board also approved a final budget for the 2014-2015 school year. Total expenditures in the general fund were $19.5 million or an increase 1.67 percent over the previous school year.
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