ALBANY - Albany school district residents Monday approved a 4-percent budget increase for the 2010-11 school year, which may bring a property tax rate increase of about 11 percent.
The 2010-11 budget is $5.36 million. It represents an increase of about $230,000 or 4 percent from the $5.13 million budget for 2009-10.
The tax levy, or the total tax amount district residents will pay of the 2010-11 budget, is about $2.7 million. Superintendent Steve Guenther said the tax levy increased due to a decline in the amount of state aid. He said the state hasn't paid as much as it promised to local school districts, but didn't have the amount the district expects to receive.
He also said Albany's financial situation was similar to other districts across the state.
The tax levy is up about $248,000 from the previous $2.44 million levy and reflects a 4-percent increase.
The new tax rate for the district of $12 per $1,000 of equalized property valuation, is up $1.23 cents from last year's $10.73.
A homeowner in Albany, with a house valued at $100,000, will pay $1,200 in school property taxes compared to $1,073 last year. A farm valued at $300,000 will pay $3,600 in school property taxes, compared to $3,219 last year.
The final school budget won't be approved until the October school board meeting. At that time, the district will have enrollment counts for the 2010-11 school year as well as the amount of state aid the district will receive.
The 2010-11 budget is $5.36 million. It represents an increase of about $230,000 or 4 percent from the $5.13 million budget for 2009-10.
The tax levy, or the total tax amount district residents will pay of the 2010-11 budget, is about $2.7 million. Superintendent Steve Guenther said the tax levy increased due to a decline in the amount of state aid. He said the state hasn't paid as much as it promised to local school districts, but didn't have the amount the district expects to receive.
He also said Albany's financial situation was similar to other districts across the state.
The tax levy is up about $248,000 from the previous $2.44 million levy and reflects a 4-percent increase.
The new tax rate for the district of $12 per $1,000 of equalized property valuation, is up $1.23 cents from last year's $10.73.
A homeowner in Albany, with a house valued at $100,000, will pay $1,200 in school property taxes compared to $1,073 last year. A farm valued at $300,000 will pay $3,600 in school property taxes, compared to $3,219 last year.
The final school budget won't be approved until the October school board meeting. At that time, the district will have enrollment counts for the 2010-11 school year as well as the amount of state aid the district will receive.