MONROE — At its annual meeting Monday, Oct. 14, the School District of Monroe’s Board of Education once again announced a significant drop in the tax rate. 

Monday’s numbers showed a rate of approximately 9.76%, the first time it has dropped below 10% since the 1998-99 budget year. That means that the owner of a home assessed at $100,000 would pay $976 in school taxes.

Ron Olson, the district’s business administrator, said the rate may fluctuate slightly when numbers are finalized at the end of the month, but would likely remain at or about the lowest rate in at least 30 years.

This low rate is thanks to an increase in equalized valuation in the district, up 8.47% from last year, another jump from the previous year’s 3.4% increase. 

The total levy for the district is currently projected to be $12,023,713, and while that may also fluctuate a bit, Olson said that it will certainly be less than a 1% increase over last year’s $11,984,833 levy.

The state’s Department of Public Instruction announced its aid numbers Oct. 15, which were slightly higher than the district anticipated. The School District of Monroe estimated that it would receive $16,475,000 in general state aid, but the DPI release indicates it will actually be $16,555,437, an increase of 1.14%. 

“It’s our job to then certify those numbers and make sure they’re correct,” said Olson. 

That will happen between now and Oct. 28, when the district will look at any modifications to this budget before approving the final version.

He said that the budget itself remains “very flat,” and hasn’t changed much in 10 years.