School taxes are projected to decrease 8 percent for residents in the Suring School District, based on the tax levy approved Aug. 19 at the district’s annual meeting.
The estimated tax rate of $6.73 per $1,000 of equalized value is down from the 2013-14 rate of $7.31, meaning those with properties valued at $100,000 will pay $673 in school taxes, a decrease of $58, compared to one year ago.
In October, the state Department of Revenue will certify the 2013 school district equalized valuations, and the final rate will be determined. School administrators proposed a tax rate based on equalized value remaining steady; any changes in the equalized value will affect the tax rate.
About a dozen residents attended the annual meeting and approved a tax levy of $3.9 million for operation and maintenance and $165,250 for debt service.
Residents reviewed the $6.6 million budget, up 3.3 percent from a year ago. The budget was prepared with a $500,000 deficit, which the district plans to offset by tapping its fund balance.
In preparing the budget, the district estimated enrollment to fall by 12 students for the 2014-15 school year. Initial counts show a decline of 14 students. The school has an enrollment of about 400 students. On Sept. 19, the district will take its official student count, and this total will be used to calculate state aid.
State aid, which provides about 13 percent of the district’s revenue, is down about $40,000 to $253,000 for the coming school year, according to the estimates. Taxpayer support accounts for 64 percent of the district’s revenue.
The 2015 annual meeting will be held at 7 p.m. Monday, Oct. 26. Residents agreed to move the meeting from its traditional August date to October so that more accurate figures are available for review next year.
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