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Board hears budget outlook as property valuations rise but state aid recommendation holds flat
Summary
Board member-led budget briefing explained a 5.62% increase in district property valuation (total just over $14.5 billion), limits on capital outlay tied to a 'growth plus 3%' formula and the $3 per $1,000 cap, and concern that a governor's 0% state‑aid recommendation would not cover inflationary pressures on schools.
At the Rapid City Area Schools Board of Education meeting, board member Mr. Sassy led a multi-part budget briefing that framed the district's near-term revenue outlook around property valuation, capital outlay rules and a concerning state budget posture.
"Overall valuation of district property increased 5.62% from pay '25," Mr. Sassy said, adding the district's total valuation is "just over $14.5 billion" and that owner‑occupied residential property makes up about 61.2% of that total. He said the district's five‑year valuation increase is 58.4% and cautioned that classification levy changes can blunt…
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