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Hastings School District # 200 Truth In Taxation

Hastings School District # 200 Truth In Taxation. December 2013. TAX LEVY CALENDAR For Taxes 2013 Payable 2014 School Year July 1, 2014 – June 30, 2015. May 2013 Legislature sets school finance formulas.

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Hastings School District # 200 Truth In Taxation

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  1. Hastings School District # 200Truth In Taxation

    December 2013
  2. TAX LEVY CALENDARFor Taxes 2013 Payable 2014 School Year July 1, 2014 – June 30, 2015 May 2013 Legislature sets school finance formulas. July 2013 Health and safety project applications are due. August 2013 Pupil projections and other school data necessary to complete initial levy run are due. August 2013 Date and location of levy hearing is set. September 2013 Schools receive initial levy limitation from MDE. September 2013 Certify proposed levy. (1) November 2013 County mails levy notices to property owners. December 2013 Public hearing on levy. December 2013 Certify final tax levy. (2) Except for new voter approved tax levies; the final levy cannot exceed the proposed levy. The certification of the levy is a culmination of a five month process, which began the previous spring.
  3. FACTORS IMPACTING TAX LEVY ISSUES DRIVEN BY LEGISLATIVE DECISIONS: Change in tax capacity rate. Laws impacting building or health and safety code compliance. Changes to other levy formulas. ISSUES DETERMINED BY DISTRICT VOTERS: Voter approved building bonds. Voter approved referendum. LOCAL FACTORS: Inflationary pressure on real estate market. Change in individual assessed market value. Possible change in property classification. Property improvements not previously taxed.
  4. PROPOSED SCHOOL PROPERTY TAX LEVY 2012 pay 20132013 pay 2014change PROPERTY TAXES DETERMINED BY STATE LEGISLATION General Fund (excludes referendum, includes location equity) 2,381,517 4,017,014 1,635,497 Community Education and Services 455,150482,74227,592 TOTAL BASED UPON STATE LEGISLATION 2,836,667 4,499,756 1,663,089 58.63% PROPERTY TAX AUTHORITY PROVIDED BY LOCAL VOTERS Referendum Levy (excludes location equity) 7,884,3245,169,870(2,714,454) TOTAL BASED ON VOTER AUTHORITY -34.43% DEBT REDEMPTION LEVY Voter Approved Building Bonds 4,608,953 4,664,585 55,632 Alternative Facility Health and Safety 346,181354,934 8,753 TOTAL DEBT REDEMPTION LEVY 4,955,134 5,019,519 64,385 1.30% TOTAL PROPERTY TAXES 15,676,125 14,689,145 (986,980) Percent Increase in Tax Levy -6.30% Tax Base (Adjusted Net Tax Capacity for District) 31,696,868 30,868,289 (828,579) Referendum Market Value 2,515,328,631 2,397,722,755 (117,605,876)
  5. EXPLANATION OF LEVY CHANGES GENERAL Equity Revenue (14,569) 3 formulas + prior year adjustments. Transition Revenue (901) Prior year adjustments. Reemployment (74,541) Prior year adjustment- est. to actual. Referendum (2,714,453) ($80,162) prior yr. adj. +$82,197 current adj. Location Equity1,887,538 Part of referendum. Net (826,916)(989,275). Career Technical (15,873) Estimated expenses to actual. Safe School Levy 17,663 Legislative change. Student Achievement (Gen Ed) 108,039 New state category. Operating Capital (159,210) Legislative change. Net 3: (43,508) Abatements 13,107 Prior yr. (3,611), current yr. +9,497 Health & Safety (92,331) Prior year more projects. Lease Levy (39,472) $107,608 -#917, $10,651 Ties. Prior yr. adj. $-71,551 Deferred Maintenance 6,047 Prior year negative adjustment. Total Change General (1,078,957)
  6. Explanation of Levy Changes continued GENERAL-previous page (1,078,957) COMMUNITY EDUCTION 27,592 School Age Care Disabled. DEBT SERVICE 64,385 Prior yr. excess reduction higher. TOTAL CHANGE (986,980) -6.30% decrease Without location/referendum change VOTER APPROVED (2,658,821) (771,284) OTHER 1,671,841(215,696) (986,980) (986,980)
  7. BUDGET OVERVIEWJuly 1, 2013 – June 30, 2014 RevenuesExpenditures General Fund 47,905,014 51,329,798 Food Service 2,231,802 2,213,155 Community Services 2,355,949 2,409,871 Construction 2 4,719 Debt Service 5,065,712 4,270,348 Trust Fund 57,500 59,670 Excludes Irrevocable Trust F45 TOTAL 57,558,479 60,227,891
  8. WHERE DO OUR REVENUES COME FROM? State Aid 35,150,968 Federal Aid 2,324,236 Levy 15,600,424 Misc. Local 4,540,351 Other-Bond Refunding 0 Total 57,615,979
  9. WHAT DO OUR EXPENDITURES PAY FOR? Salaries/Benefits 42,297,931 Purchased Services 7,837,053 Debt Service-includes bond refunding 4,270,348 Equip, Books, Buildings 2,197,558 Supplies 3,290,375 Misc 394,296 Total 60,287,561
  10. WHAT DO OUR EXPENDITURES PAY FOR? Administration 1,907,707 District Support 1,515,029 Elem. & Sec. Reg. 25,695,444 Vocational 355,806 Special Education 8,086,941 Community Education 2,372,016 Instructional Support 3,271,183 Pupil Support 6,663,165 Sites & Buildings 5,945,931 Other Fixed Costs 4,474,339 Total 60,287,561
  11. QUESTIONS OR COMMENTS CONTACT HASTINGS ISD # 200 DISTRICT OFFICE 1000 11TH ST WEST HASTINGS MN 55033 (651) 480-7000 Posted on District Web http://www.hastings.k12.mn.us/Property_Taxes2
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