MONROE - The Monticello school district approved a 6.8 percent increase in the school's tax levy at its annual meeting and budget hearing Sept. 23.
The school district will raise about $2.48 million in property tax revenue for the 2013-14 school year, about $157,700 more than the $2.32 million it raised last year.
Based on the district's total equalized property value of last year, the new tax rate will be $14.12 per $1,000 of property value, up from $13.23 per $1,000 for 2012-13.
That means the owner of a $100,000 home will pay $1,412 in school taxes next year, about $89 more than last year. The owner of property worth $200,000 will pay $2,824, about $178 more.
Of the $2.48 million in property taxes, about $500,000 is going to cover debt service - $291,000 for referendum debt and $208,000 for non-referendum debt. The 2013-14 year marks the last year of a six-year referendum passed in 2008. The district is considering presenting another referendum vote next spring.
The general fund takes $1.98 million of the property tax revenue.
The school's total expenditures for the 2013-14 year come in at $6.4 million, up 8.7 percent, or $513,000, from last year.
The general funds for instruction, support services and non-program transactions will rise to $5 million, up 8.6 percent, or $396,800 from last year. Instruction, which includes staff, aides, supplies and textbooks, will rise to $2.16 million, up 5.2 percent or $107,000. Support services, including administration, staff and pupil services and central services, will increase by 8.5 percent or $148,000, to $1.9 million. Non-program transactions are up by 17.7 percent or $141,700, to $944,200.
Special project funds rise to $710,600, up 9.7 percent or $62,700. Debt service is up 8 percent or $37,000, to $501,200. Food service is up by 8.7 percent or $15,900, to $198,500.
Revenues totaling $4.7 million are down by $61,000, or 1.3 percent, from last year. The district will use $296,600 in the reserve funds to help balance the budget.
General state aid is budgeted at as the same as last year, $2.3 million. Categorical state aid is $16,000, down $20,700 from $36,800 last year. The numbers will be finalized at the end of October.
The 2013-14 school district tax rate will be the highest since 1995, when the rate was $17.21 per $1,000. Following 1995, the tax rates generally fell until 2008, even though the levy amount also increased, as property values increased. Tax rates have risen from $8.61 in 2008; property values began to drop in 2010. The total levy amounts held about steady at $2.3 million annually from 2009 through 2012.
The school district will raise about $2.48 million in property tax revenue for the 2013-14 school year, about $157,700 more than the $2.32 million it raised last year.
Based on the district's total equalized property value of last year, the new tax rate will be $14.12 per $1,000 of property value, up from $13.23 per $1,000 for 2012-13.
That means the owner of a $100,000 home will pay $1,412 in school taxes next year, about $89 more than last year. The owner of property worth $200,000 will pay $2,824, about $178 more.
Of the $2.48 million in property taxes, about $500,000 is going to cover debt service - $291,000 for referendum debt and $208,000 for non-referendum debt. The 2013-14 year marks the last year of a six-year referendum passed in 2008. The district is considering presenting another referendum vote next spring.
The general fund takes $1.98 million of the property tax revenue.
The school's total expenditures for the 2013-14 year come in at $6.4 million, up 8.7 percent, or $513,000, from last year.
The general funds for instruction, support services and non-program transactions will rise to $5 million, up 8.6 percent, or $396,800 from last year. Instruction, which includes staff, aides, supplies and textbooks, will rise to $2.16 million, up 5.2 percent or $107,000. Support services, including administration, staff and pupil services and central services, will increase by 8.5 percent or $148,000, to $1.9 million. Non-program transactions are up by 17.7 percent or $141,700, to $944,200.
Special project funds rise to $710,600, up 9.7 percent or $62,700. Debt service is up 8 percent or $37,000, to $501,200. Food service is up by 8.7 percent or $15,900, to $198,500.
Revenues totaling $4.7 million are down by $61,000, or 1.3 percent, from last year. The district will use $296,600 in the reserve funds to help balance the budget.
General state aid is budgeted at as the same as last year, $2.3 million. Categorical state aid is $16,000, down $20,700 from $36,800 last year. The numbers will be finalized at the end of October.
The 2013-14 school district tax rate will be the highest since 1995, when the rate was $17.21 per $1,000. Following 1995, the tax rates generally fell until 2008, even though the levy amount also increased, as property values increased. Tax rates have risen from $8.61 in 2008; property values began to drop in 2010. The total levy amounts held about steady at $2.3 million annually from 2009 through 2012.