SOUTH WAYNE - Property owners in the Black Hawk School District are looking at a school tax rate of $10.12 per $1,000 of property value for 2014. The new rate is 50 cents, or 5.2 percent, higher than the rate of $9.62 per $1,000 last year.
The district held its budget hearing and annual meeting Monday, Oct. 21.
Under the new rate, the owner of a $100,000 home will pay $1,012 in school taxes next year, $50 more than last year. The owner of a $200,000 home will pay $2,024, or $100 more.
The district is raising $1.65 million in property taxes for the 2013-14 year, about $61,000 or 3.8 percent more than $1.59 million last year.
The general fund will take $1.57 million of that tax money, and the debt service will use $83,300.
Expenditures in the general fund, which includes instruction and support services, total $4.70 million, about $45,400 more, or almost 1 percent more, than $4.66 million last year. Instruction expenditures of $2.20 million are up about $11,000 or about one-half percent from $2.19 million last year. Expenses for support services, including administration, are up 3.8 percent or $59,000, from about $1.75 million last year to $1.8 million this year.
Special project expenses are down 7.5 percent or $61,500, from $815,500 to $754,000.
Debt services expense for long-term capital debt is almost doubled, from $42,500 to $83,300. The building fund expenses went from $68,000 to $282,000.
Food service expense is up slightly, from $166,400 to $167,800.
Total revenues for the school district's general fund will be down about $74,000, or 1.6 percent. Revenues will total about $4.52 million, compared to $4.59 million last year.
The district is losing about $90,000 in general state aid, down from $2.45 million to $2.36 million. Categorical state aid is up by $5,300 to $78,600, and computer aid is also up by $5,300 to $94,000.
The district is also expecting to receive $53,500 for federal special projects grants, up $10,300 compared to $43,100 last year.
The district held its budget hearing and annual meeting Monday, Oct. 21.
Under the new rate, the owner of a $100,000 home will pay $1,012 in school taxes next year, $50 more than last year. The owner of a $200,000 home will pay $2,024, or $100 more.
The district is raising $1.65 million in property taxes for the 2013-14 year, about $61,000 or 3.8 percent more than $1.59 million last year.
The general fund will take $1.57 million of that tax money, and the debt service will use $83,300.
Expenditures in the general fund, which includes instruction and support services, total $4.70 million, about $45,400 more, or almost 1 percent more, than $4.66 million last year. Instruction expenditures of $2.20 million are up about $11,000 or about one-half percent from $2.19 million last year. Expenses for support services, including administration, are up 3.8 percent or $59,000, from about $1.75 million last year to $1.8 million this year.
Special project expenses are down 7.5 percent or $61,500, from $815,500 to $754,000.
Debt services expense for long-term capital debt is almost doubled, from $42,500 to $83,300. The building fund expenses went from $68,000 to $282,000.
Food service expense is up slightly, from $166,400 to $167,800.
Total revenues for the school district's general fund will be down about $74,000, or 1.6 percent. Revenues will total about $4.52 million, compared to $4.59 million last year.
The district is losing about $90,000 in general state aid, down from $2.45 million to $2.36 million. Categorical state aid is up by $5,300 to $78,600, and computer aid is also up by $5,300 to $94,000.
The district is also expecting to receive $53,500 for federal special projects grants, up $10,300 compared to $43,100 last year.