Truth in Taxation

TRUTH IN TAXATION

At the December 4, 2023 School Board meeting, the School Board held its Truth in Taxation hearing. The recommended levy is $1,324,682.73 more than the 2022 payable 2023 property tax levy. This represents a 10.01% change in total school property taxes. The major increases and decreases with the levy are explained in the Truth in Taxation Power Point. The majority of the levy increase is due to our Reduction for Excess Fund Balance going back to a normal level. The District saw a decrease in the Debt Service levy in the 2022 Payable 2023 levy as the Board approved a transfer back of unspent bond proceeds from the 2019 Pinewood HVAC project around $940,000. Unspent bond proceeds have to be transferred back to the Debt Service fund and reduce future tax levies. They can't be used for anything else than the initial approval request. Outside of this one-time event, the levy would have only increased around 3%.

In the presentation, there are a couple of residential property tax examples estimated by Ehlers, the District's financial advisors. If property values would have remained the same, residents would have seen a slight decrease in their school district property taxes. By using an average property value estimated increase of 23.4% over 4 years, Ehlers estimates some slight property tax increases. Actual changes may be more or less than estimates shown for any specific parcel of property depending on the property value changes.

2023 Payable 2024 Truth in Taxation Presentation
Follow-up Levy Presentation

Questions about the Truth in Taxation hearing may be directed to Tina Burkholder at 763.272.2015.

Current voter approved levies in place:
In the fall of 2015, 2 questions were passed by the voters. Question 1 was a bond referendum that paid for projects and will sunset after taxes payable 2039. The bond referendum covered the Eastview addition, High School gymnastics gym, High School multi-purpose stadium & track, secured entrances, secondary media renovations, updated furniture at all buildings, 1:1 devices, Middle School Kitchen move, Middle School tennis courts move, and special education room renovations. The second question was an operating levy referendum that pays for general operating expenses such as salaries, benefits and supplies. The 10th year of the operating referendum is taxes payable 2026.