Second Consecutive Year of School Tax Levy Reduction

Second Consecutive Year of School Tax Levy Reduction
Posted on 03/29/2018
Tax Levy History

This past week, the Spencer School Board approved the proposed school budget for the 2018-19 school year.  This is an annual process that must be completed by April 15th.  The proposed tax rate for 2018-19 is also set at this time.   

For the 2018-19 school year, the needs of the Spencer Community School District can be met with a lower overall tax rate.  The proposed tax rate is 13.48.  This is a 62-cent reduction and will positively affect homeowners’ property taxes.

Please see the chart below which shows the tax levy history for the past five years and the proposed tax rate for the 2018-19 school year.

tax levy history

You may be asking “How will this tax levy decrease affect my property taxes?”  On a home with an assessed property value of $100,000, the school portion of your property tax would see a reduction from $803.00 to $750.00 and on a home with an assessed property value of $300,000, the school portion of your property tax would see a reduction from $2,409 to $2,250.

 

The Spencer School Board and Administration understand the impact of property taxes on the residents of the school district.  The Board and Administration monitor the needs and requirements of the District very closely.  While the tax rate is declining for next year, the needs in future years may require an increase.


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