SOUTH WAYNE - Voters will determine the tax rate in the Black Hawk school district Nov. 4 when they are asked to approve a $250,000 recurring referendum for operational expenses.
If the referendum passes residents could see a spike in their school taxes for the 2014-15 school year, and without the referendum residents' taxes will decrease slightly.
The 2014-15 budget, passed at Black Hawk's annual meeting on Oct. 20, accounts for both prospects of the referendum passing or not passing. If the referendum does not pass, the district estimates next year's tax rate would drop 5.1 percent to $9.60 per $1,000 of a house's value. Residents with homes valued at $100,000 would be taxed $959 during the 2014-15 school year, a drop from $1,012 this year. Residents with homes valued at $150,000 would be taxed $1,479.
If the referendum passes, the tax rate would be $11.09 per $1,000 of value, a 9.6 percent increase over this year's tax rate of $10.12. A $100,000 home would be taxed $1,109, which would be $150 more than without the referendum. Residents with homes valued at $150,000 would be taxed $1,709.
If the referendum passes, the amount levied would see an increase of 12 percent over the 2013-14 levy of $1.65 million, to $1.86 million for 2014-15. Without the referendum, $1.61 million would be levied, a decrease of 2.4 percent from 2013-14.
With the referendum, the general fund would be at $4.83 million, an increase of 1.3 percent from $4.77 million in 2013-14. Expenses would go up by 3.1 percent to $4.9 million, from $4.75 million in 2013-14. The only changes to reported revenues if the referendum passes would be in local taxes, an increase of more than $203,000 to $1.77 million compared to $1.57 million in 2013-14. Without the referendum, the 2014-15 budget would see a decrease in the general fund from $4.77 million to $4.58 million, a 3.8 percent decrease.
Open enrollment from other school districts will bring in $192,000 for 2014-15, a $64,000 increase from the $128,000 gained in 2013-14.
If the referendum passes residents could see a spike in their school taxes for the 2014-15 school year, and without the referendum residents' taxes will decrease slightly.
The 2014-15 budget, passed at Black Hawk's annual meeting on Oct. 20, accounts for both prospects of the referendum passing or not passing. If the referendum does not pass, the district estimates next year's tax rate would drop 5.1 percent to $9.60 per $1,000 of a house's value. Residents with homes valued at $100,000 would be taxed $959 during the 2014-15 school year, a drop from $1,012 this year. Residents with homes valued at $150,000 would be taxed $1,479.
If the referendum passes, the tax rate would be $11.09 per $1,000 of value, a 9.6 percent increase over this year's tax rate of $10.12. A $100,000 home would be taxed $1,109, which would be $150 more than without the referendum. Residents with homes valued at $150,000 would be taxed $1,709.
If the referendum passes, the amount levied would see an increase of 12 percent over the 2013-14 levy of $1.65 million, to $1.86 million for 2014-15. Without the referendum, $1.61 million would be levied, a decrease of 2.4 percent from 2013-14.
With the referendum, the general fund would be at $4.83 million, an increase of 1.3 percent from $4.77 million in 2013-14. Expenses would go up by 3.1 percent to $4.9 million, from $4.75 million in 2013-14. The only changes to reported revenues if the referendum passes would be in local taxes, an increase of more than $203,000 to $1.77 million compared to $1.57 million in 2013-14. Without the referendum, the 2014-15 budget would see a decrease in the general fund from $4.77 million to $4.58 million, a 3.8 percent decrease.
Open enrollment from other school districts will bring in $192,000 for 2014-15, a $64,000 increase from the $128,000 gained in 2013-14.