ARGYLE - Taxpayers in the Argyle school district will see a slightly lower tax rate for the 2014-15 school year.
The district's 2014-15 budget was passed at its annual meeting Monday with about five citizens in attendance, according to Superintendent Phil Updike. The vote was unanimous.
The tax rate dropped by 3 cents to $11 per $1,000 of valuation for 2014-15, a 0.27 percent decrease from this school year's rate of $11.03. The owner of a home valued at $100,000 will be taxed $1,100 in 2014-15 instead of $1,103 for 2013-14. The owner of a $150,000 home will be taxed $1,650 for 2014-15.
The tax levy for the 2014-15 school year will be $1.52 million, up from $1.47 million in 2013-14. This marks a 3.47 percent increase.
The general fund for 2014-15 is at $1.03 million, an increase of about $51,000 from $982,000 for this year.
Expenses in the 2014-15 budget came to $4.18 million, a decrease from $4.51 million in expenses this year. Expenses were lessened thanks to a drop to $484,000 in refinancing costs, a decrease of more than $404,000 from the $889,000 in refinancing costs in 2013-14.
Revenues rose slightly to $3.7 million in 2014-15, up from $3.63 million in 2013-14. Revenues rose largely due to an increase in local sources of revenue, like tax and fundraising at $114,000 in 2014-15, an increase of more than $26,000 from $87,000 in 2013-14. Revenue from federal sources fell by $25,000 to $99,000 in 2014-15 from $124,000 in 2013-14.
The district's 2014-15 budget was passed at its annual meeting Monday with about five citizens in attendance, according to Superintendent Phil Updike. The vote was unanimous.
The tax rate dropped by 3 cents to $11 per $1,000 of valuation for 2014-15, a 0.27 percent decrease from this school year's rate of $11.03. The owner of a home valued at $100,000 will be taxed $1,100 in 2014-15 instead of $1,103 for 2013-14. The owner of a $150,000 home will be taxed $1,650 for 2014-15.
The tax levy for the 2014-15 school year will be $1.52 million, up from $1.47 million in 2013-14. This marks a 3.47 percent increase.
The general fund for 2014-15 is at $1.03 million, an increase of about $51,000 from $982,000 for this year.
Expenses in the 2014-15 budget came to $4.18 million, a decrease from $4.51 million in expenses this year. Expenses were lessened thanks to a drop to $484,000 in refinancing costs, a decrease of more than $404,000 from the $889,000 in refinancing costs in 2013-14.
Revenues rose slightly to $3.7 million in 2014-15, up from $3.63 million in 2013-14. Revenues rose largely due to an increase in local sources of revenue, like tax and fundraising at $114,000 in 2014-15, an increase of more than $26,000 from $87,000 in 2013-14. Revenue from federal sources fell by $25,000 to $99,000 in 2014-15 from $124,000 in 2013-14.