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Referendum 2016 vote! Referendum 2016 vote!

Referendum 2016 vote! - PowerPoint Presentation

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Referendum 2016 vote! - PPT Presentation

An election ballot question that allows districts to generate additional education revenue Revenue is provided through a combination of local property tax levies and state aid Referendum revenue may be used for any operating or capital expenses the same as basic general education revenue ID: 585729

aid referendum operating state referendum aid state operating school property current increase 000 revenue district years 760 enrollment taxes

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Slide1

Referendum 2016 vote!

An election ballot question that allows districts to generate additional education revenue.

Revenue is provided through a combination of local property tax levies, and state aid.

Referendum revenue may be used for any operating or capital expenses, the same as basic general education revenue.

Operating referendum property tax levies are spread on referendum market value (RMV).Slide2

Referendum Information

The school board is asking school district taxpayers to renew the current operating referendum with an increase. The school board has and continues to work on operating budgets for future years. Slide3

Referendum Information

For the past

few

years the enrollment at TAPS has decreased in grades K-12. The

enrollment in 2009-2010 was (811) and in 2015-2016 enrollment was (731).

The current trend indicates that

we

may

continue to slightly decline in enrollment for the next ten years. The school board has determined that these additional funds are needed for the school district to maintain current programming while continuing to offer advancements in technology and curriculum and, at the same time, keeping class sizes small. Slide4

Operating referendum continued

Referendum property taxes are not levied on:

1. Seasonal Recreation Property (cabins).

2. AG land and buildings (only house,

garage, and 1 acre).

Almost all other property in a district pays

the same tax per dollar of market value.Slide5

Operating referendum continued

The last year of our current referendum expires after taxes payable in 2017.

TAPS will receive revenue on the current referendum through June 30, 2018.

Referendum FY16: $225,000 is AID & $224,500 is Levy.Slide6

Operating referendum continued

Equalization:

1. 1

st

tier is $300/65% State Aid.

2. 2

nd

tier cap is $760/40% State Aid.

3. 3

rd

tier has no cap/0% State Aid.

4

. Raising the levy to $760 will result in an increase in state aid.

5

. Net Change is $189.41/student or $147,000/year.

6. Of the total increase around $98,000 is levy and $49,000 is state aid.

7. This will maximize the state aid. If TAPS did not increase to $760, the district would not be maximizing state aid.

8. Taxes

on a $100,000 home would increase $36/year.

Slide7
Slide8

Referendum Allowance – Comparison to Nearby DistrictsSlide9
Slide10
Slide11

Specific information

Election Date: Tuesday, November 8, 2016

Existing FY18 authority is $570.59

per

pupil

With inflationary adjustments

Expires

after FY 2018

Ballot Question

Add $189.41 of additional authority for a total of $760 per pupil

Subject to annual inflationary adjustments

Expiration after 10 years

Effective for taxes payable 2018, for FY 2019Slide12