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Aurora West reports stronger property valuations, shrinking bond levy and larger fund balances in FY25 Q3 update
Summary
Ryan Ebranson, the district director of finance, told the Aurora West USD 129 board that equalized assessed valuation rose about 12.5% and the district’s bond levy will decline, contributing to an expectation that tax bills overall will be relatively flat next year.
Aurora West USD 129 received an FY25 quarter‑three financial update on May 19 that showed strong property valuation growth, larger fund balances and a projected flattening of tax bills next year as bond payments decline.
Ryan Ebranson, director of finance, told the board the district’s final equalized assessed valuation (EAV) increased about 12.5% and "that’s actually the largest increase we've seen in a long time." He said the valuation growth has put "downward pressure" on the tax rate, which he reported at about 4.59 percent.
Ebranson said most homeowners in the district would see valuations rise roughly 10–12 percent this year; he added that total tax bills "will be up generally about between 2–3%" for many taxpayers this year, and staff expect more modest valuation increases — roughly 2–4 percent — next year with taxes overall "relatively flat," driven in part by decreases in the bond and interest levy.
On the bond and interest levy tied to the 2014 referendum, Ebranson said the district had maintained an annual payment of about $14,100,000 and that the levy decreased by roughly $900,000 this year; he said the district expects a $3,000,000 decrease next year that should offset operating side valuation increases. Ebranson stressed that timing of receipts affects some categorical state revenue lines and that certain year‑to‑date differences are timing issues.
Other highlights from the treasurer’s report: interest earnings have risen as both market rates and district fund balances increased; evidence‑based funding and most categorical revenues were trending on budget; federal and Medicaid reimbursements were slightly ahead; and salaries were trending above budget after more optimistic assumptions during budget preparation. Ebranson told trustees the district’s total operating revenues were up slightly year‑over‑year and that expenditures were up at a similar rate, with many year‑end encumbrances recorded.
Board members and staff noted the district’s fund balance growth. Dr. Smith pointed out that the district’s days of fund balance have increased from about 25 days to "over 200," a trend Ebranson displayed in a multi‑year cash graph. Ebranson also said the district will transition to a new financial system July 1 to support improved reporting and dashboards.
On next steps, Ebranson outlined the budget timeline: public display and hearing requests in August and September, with final budget action at the last September meeting. Trustees asked staff to follow up on specific timing and categoricals; Ebranson said he would provide details.
Why this matters: The valuation gain helps lower the tax rate and creates fiscal flexibility, but salary trends and one‑time capital/ESSER spending affect outlays; the projected decrease in bond payments tied to the 2014 referendum materially affects taxpayer levy calculations and district revenues.
