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Board hears budget update; presenter calculates 3.11% tax‑cap for 2026–27
Summary
District finance presenter calculated a preliminary tax‑cap of 3.11% for 2026–27 (tax‑base growth factor 0.35%), showed revenue scenarios and said reserves (about $3.8M) are currently supporting operations; March 1 is the comptroller submission deadline.
The district's finance presenter walked the board through a tax‑cap calculation and three revenue scenarios, saying the preliminary tax‑cap is 3.11% for the 2026–27 fiscal year with a tax‑base growth factor of 0.35%.
"This point 35%...that's our tax based growth factor," the presenter explained, describing how new property added to the tax base reduces the direct taxpayer impact. Using the growth factor, the presenter said the taxpayer‑facing increase if the district used the full cap would be about 2.76%.
The presenter provided three illustrative levy scenarios (2.0%, 2.5% and 3.11%) and estimated revenue under a cap scenario of roughly $93.2 million against a current operating budget near $94.2 million. The district is using about $3.8 million in reserves this year to remain within its budget, the presenter said, and warned of the need to rebuild reserves such as the insurance reserve over time.
Board members asked clarifying questions about fund balance, reserve allocation and the comptroller filing schedule. The finance presenter reminded trustees that March 1 is the date to submit the tax‑cap calculation to the state comptroller and said staff will return with additional scenarios and details as requested.
Why it matters: the tax‑cap calculation sets the maximum allowable levy increase the district can adopt; board acceptance of a final cap and levy choices will follow in upcoming meetings as the budget is finalized.
No formal vote on the levy or adoption of a budget occurred in this session; the board will consider formal acceptance of the tax cap at a subsequent meeting prior to the comptroller filing deadline.
