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District says rising property values likely to lower WUHS mill rate despite higher assessed values for some homeowners
Summary
Superintendent Francois told the board on Aug. 12 that unofficial property value data point to a district-wide increase in assessed values that should reduce the Waterford UHS mill rate, though individual taxpayers may still see higher bills if their property assessments rose substantially.
Superintendent Francois briefed the board that the district received unofficial property value figures earlier on Aug. 12 and will use that data to forecast final budget numbers ahead of the October tax-levy setting. He said overall property values throughout the district have increased and that, all else equal, the district expects a decrease in the WUHS mill rate.
Dr. Francois cautioned that even if the district’s mill rate decreases, homeowners could still see an increase in the total property tax they pay if their individual assessed value rose significantly. The update was presented as informational; no levy-setting action occurred at the meeting.
Board members were afforded an opportunity to ask questions; the administration will incorporate the unofficial values into the October levy-setting process and finalize budget numbers according to statutory requirements.
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