The Colonial School District's Board of Education meeting on July 9, 2025, was dominated by discussions surrounding the fiscal year 2026 tax rate, with board members grappling with the implications of a recent county-wide property reassessment. Chief Operating and Financial Officer Emily Falcon presented a detailed overview of the tax rate adjustments, emphasizing the need for a careful approach amid uncertainties regarding federal funding and property tax appeals.

Falcon explained that the reassessment, which aimed to align property values with current market conditions, had resulted in a significant increase in assessed values across the district. This year, the board faced the challenge of setting a tax rate that would not only reflect these changes but also ensure adequate funding for educational programs. The proposed options ranged from a revenue-neutral rate to increases of 3%, 7%, and 10%.

The board ultimately leaned towards a 7% increase, which was seen as a necessary buffer against potential revenue losses from appeals and uncertainties surrounding federal funding cuts. Falcon noted that the federal government had withheld approximately $1.3 million in grant funding, adding to the financial strain. The board's decision to pursue a 7% increase was framed as a proactive measure to maintain financial stability and support essential educational services.

In addition to the tax rate discussion, board members expressed concerns about the potential impact of the reassessment on individual taxpayers, highlighting the need for clear communication with the community regarding the changes. The board's decision reflects a commitment to balancing fiscal responsibility with the educational needs of students, as they navigate a complex financial landscape marked by reassessment challenges and federal funding uncertainties.

As the board prepares to finalize the tax rate, they remain focused on ensuring that the district can continue to provide quality education while managing the financial risks associated with the ongoing reassessment process.