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Preliminary taxable values put district in position for a small local tax-rate drop, finance report shows
Summary
The district reported preliminary certified taxable values around $1.114 billion (after homestead adjustments) and a projection that the local tax rate could fall from 71.22 cents to 70.54 cents, giving modest flexibility in next year's budget assumptions.
The board received a finance update on preliminary taxable values and the district's budgeting outlook.
The finance presenter said estimated certified taxable values sit near $1,114,000,000 (noting the effect of a $140,000 homestead exemption on comparisons) and explained the approach for budgeting using a five-year average adjustment. The presenter said that, with current values, "our local tax rate will drop just it'll drop from $71.22 cents down to 70.54¢," indicating a fractional reduction that may give some room to adjust the district's rate for fiscal planning.
The presenter cautioned that comparisons across years are affected by the timing of legislative changes to exemptions and by when certified values are finalized; the district will use averaged estimates until closer to the budget deadline. No formal budget or rate-setting action was taken in the meeting; the item was informational to guide upcoming budget work.
Trustees asked clarifying questions and were told the district will continue to refine estimates as final certified values are received.
