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2009-10 Tax Rate

2009-10 Tax Rate. Park Hill School District August 13, 2009. Current Tax Levy. FY2010 Budget. FY2010 budget was created anticipating no change in the tax levy Reassessment Years

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2009-10 Tax Rate

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  1. 2009-10 Tax Rate Park Hill School District August 13, 2009

  2. Current Tax Levy

  3. FY2010 Budget • FY2010 budget was created anticipating no change in the tax levy • Reassessment Years • Typically in reassessment years (odd numbered years), the State Auditor requires districts to “rollback” the operational levy due to the Hancock Amendment in order to make reassessment “revenue neutral” • 2009 was an atypical reassessment year • Reassessment resulted in a net negative assessed valuation

  4. Changes Assessed Valuation • Reassessment of Real Property • Changes in Personal Property • New Growth 2008 $1,398,771,715 $1,398,771,715 2009 $1,427,317,699

  5. Non-Debt Service Tax Levy • Current Year $4.6467 in Operation (Fund 1) $0.0453 in Capital Fund (Fund 4) $4.6920 Current Levy • State Auditor annually reviews the tax levy • Tax Rate Ceiling – State auditor adjusts tax rate based upon Hancock Amendment or other changes in Assessed Valuation / Revenue • 2008 Park Hill School District Ceiling - $4.6920 • 2009 Park Hill School District Ceiling - $4.7677 • Ceiling increased due to decreases due to reassessment

  6. Proposed 2009 Non-Debt Tax Levy

  7. 2009-2010 Proposed Tax Levy

  8. Future Tax Levy • 2010-2011 • Board may consider recovering the $0.0757 voluntary rollback • August, 2010 – Restrictions in Senate Bill 711 allow the district one opportunity to recover any voluntary rollback (non-reassessment/even years)

  9. 2009-10 Tax Rate Park Hill School District August 13, 2009

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