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Finance committee: Milton expects stable tax levy as equalized value rises
Summary
Finance committee reported that equalized value increased and the district expects to keep the total tax levy stable; final 2025–26 budget scheduled for board approval Oct. 27.
The Milton School District’s finance committee told the full board on Oct. 13 that preliminary indicators point to a stable total tax levy for the 2025–26 budget, driven by a larger equalized property value base and increased special education aid.
Tracy, a board member who presented the finance update, said the committee reviewed draft budget assumptions on Oct. 6 and that no formal board action was required at the Oct. 13 meeting because the administration will bring a finalized budget for approval at the Oct. 27 meeting.
Why it matters: Changes in equalized value and state aid affect the district’s revenue limit and the mill rate levied on property owners.
Tracy told the board the Department of Revenue’s equalized value estimate for the district rose by 6.34%, while estimated net new construction is about 1.95%. The committee also reported an unbudgeted increase in special education categorical aid that officials said will help the district maintain fiscal stability without increasing the total levy. "The goal remains clear to provide a high quality education while maintaining fiscal responsibility," Tracy said.
A follow‑up comment from a district staff member identified as Roger said the district still needs final state aid numbers to determine the revenue limit precisely but that the administration anticipates keeping the total levy stable and using the broader tax base to spread the levy without a levy increase.
Next steps: District administration will incorporate final state aid and other updated figures and present a recommended 2025–26 budget to the full board at the Oct. 27 meeting for action.
