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Fulton school officials outline budget shortfall and tax-cap options; tax‑cap increase would add up to $488,886 in levy
Summary
The district presented its tax‑cap calculation, projected deficits under various levy increases and estimated household impacts for different tax-increase scenarios; administrators said the allowable tax-cap increase is 2.15%, equal to $488,886 in levy growth.
District finance staff presented a budget update that included the district’s tax‑cap calculation, projected budget deficits under several levy scenarios and estimated household impacts.
At the board meeting the district financial presenter reviewed the steps used in the tax‑cap calculation from the State Comptroller’s inputs, saying the allowable levy increase for the 2025–26 projection is 2.15%, which she equated to $488,886 in additional levy capacity. She showed projected deficit reductions…
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