MONTICELLO - The Monticello School District passed a levy increase of 0.16 percent in its 2012-13 budget at an annual meeting Monday, Sept. 24. The levy totals $2.26 million, up $3,500 from the levy last year.
Based on last year's equalized property value of $176.5 million, the new tax rate will be $12.81, up two cents from 2011.
At this rate, the owner of a $150,000 house will pay $1,922 for district school taxes, and the owner of a $200,000 house will pay $2,562.
School district tax apportionment equalized values do not include tax increment district values; final property values and state aid will be finalized in October.
The school district will be operating on total budget of $5.86 million for all funds, up 6.77 percent, or $371,000, from $5.5 million last year. But after interfund transfers of $450,000 this year and $285,000 last year, the difference is reduced to $207,000 more for 2012-13, an increase of 3.97 percent in expenses.
The general funds for instruction, support services and non-program transactions was budgeted at $4.67 million, up $375,000, or 8.73 percent, from $4.29 million last year. Compared to last year, instruction, at $2.08 million, is down about $19,000. Support services, including administration and central services, rose $225,000 to $1.76 million. Non-program transactions include the $450,000 interfund transfer, up $165,000 from last year, and $373,000 for instructional service payments, up $3,700.
The district expects to receive about $2.4 million in state aid, up from $2.3 million last year.
Of the $2.26 million tax levy, $1.8 million will go toward the general fund; $304,000 goes toward the referendum debt; $160,400 goes toward the non-referendum debt.
The 2012-13 school year marks the fifth year of a six-year referendum, passed in 2008, which allows the school district to levy above the revenue limits, according to the budget report by Karen Ballin, district administrator. The referendum allowed for $430,000 in 2011-12 and 2012-13.
Based on last year's equalized property value of $176.5 million, the new tax rate will be $12.81, up two cents from 2011.
At this rate, the owner of a $150,000 house will pay $1,922 for district school taxes, and the owner of a $200,000 house will pay $2,562.
School district tax apportionment equalized values do not include tax increment district values; final property values and state aid will be finalized in October.
The school district will be operating on total budget of $5.86 million for all funds, up 6.77 percent, or $371,000, from $5.5 million last year. But after interfund transfers of $450,000 this year and $285,000 last year, the difference is reduced to $207,000 more for 2012-13, an increase of 3.97 percent in expenses.
The general funds for instruction, support services and non-program transactions was budgeted at $4.67 million, up $375,000, or 8.73 percent, from $4.29 million last year. Compared to last year, instruction, at $2.08 million, is down about $19,000. Support services, including administration and central services, rose $225,000 to $1.76 million. Non-program transactions include the $450,000 interfund transfer, up $165,000 from last year, and $373,000 for instructional service payments, up $3,700.
The district expects to receive about $2.4 million in state aid, up from $2.3 million last year.
Of the $2.26 million tax levy, $1.8 million will go toward the general fund; $304,000 goes toward the referendum debt; $160,400 goes toward the non-referendum debt.
The 2012-13 school year marks the fifth year of a six-year referendum, passed in 2008, which allows the school district to levy above the revenue limits, according to the budget report by Karen Ballin, district administrator. The referendum allowed for $430,000 in 2011-12 and 2012-13.