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2011-2012 Tax Rate

2011-2012 Tax Rate. Park Hill School District August 11, 2011. Impact: Tax Bill on a $200,000 Home. 2010-2011 Park Hill School District Tax Levy. *Operational Levy of $4.0826 was set to 2010-2011 Tax Ceiling. Operational Tax Levy Terminology. Voluntary Rollback.

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2011-2012 Tax Rate

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  1. 2011-2012 Tax Rate Park Hill School District August 11, 2011

  2. Impact: Tax Bill on a $200,000 Home

  3. 2010-2011 Park Hill School District Tax Levy *Operational Levy of $4.0826 was set to 2010-2011 Tax Ceiling

  4. Operational Tax Levy Terminology Voluntary Rollback

  5. Assessed Valuation Change * Includes $11,882,862 in new construction ** First drop in total assessed valuation for Park Hill School District since 1994

  6. Assessed Valuation Change • Reassessment of Real Property • Changes in Personal Property • New Growth 2010 $1,452,010,209 $1,452,010,209 2011 1,440,437,815 *causes an increase in the tax ceiling to offset effects of reassessment

  7. FY2012 Budget • FY2012 budget was created anticipating a no increase in the tax levy • $4.8026 = Operational • $0.6107 = Debt Service • After final assessed valuation figures from the county, the tax rate ceiling moved up from $4.8026 to $4.9105 (+$0.1079)

  8. Operational Revenue Impact of Assessed Valuation Decrease Preliminary Calculation Current Levy = $4.8026 Scenario 2 $0.0000 Voluntary Rollback Tax Rollup $0.1079 $66.7 $800,000 in Unbudgeted Revenue $66.1 FY2011 Revenue FY2012 Operational Revenue (in millions) $65.9 Approved FY2012 Budget $600,000 Revenue Shortfall $65.3 Scenario 1 $0.1079 Voluntary Rollback No Tax Rollup

  9. FY2012 Budget • Scenario 1 – No Tax Rollup • Proposed Action • Further reduce FY2012 expenditure budget by $600,000 • Scenario 2 – Tax Rollup to Ceiling • Proposed Action • Reinstitute some cuts made to FY2012 budget • Use for fund balance stabilization (for future years) • Lessen future cuts • Cover anticipated future withholdings from State

  10. Tax Rate Hearing • August 25, 2011 7PM • Notices have been posted per MO Revised Statutes 67.110 • Uses the tax rollup scenario • Provides Board of Education most flexibility

  11. 2011-2012 Tax Rate Park Hill School District August 11, 2011

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