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Superior School District finance update: equalized value falls 1.6%, board warned of roughly $1.8 million tax-levy impact
Summary
At a Sept. 2 Committee of the Whole meeting, David C. told the Board of Education of the Superior School District that the district's equalized property value declined 1.6%—an outlier versus an 8% statewide increase—contributing to an estimated $1.8 million increase in the district's tax levy and a projected mill rate rise to about $7.08.
David C., who presented the district's equalization aid update to the Board of Education of the Superior School District on Sept. 2, said the district's equalized property value dropped 1.6% from the prior year and called the result "a huge outlier" compared with statewide trends.
"The equalized value of all the property in the...district to Superior actually went down 1.6%," David C. said, noting the state average was an 8% increase. He said the change is driving what he estimated to be about a $1,800,000 increase in the district's tax levy for the coming budget cycle.
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