Supporters of bond issue projected $3.26, reality is $1.57
Derby taxpayers will pay higher taxes for local schools later this year, but the increase is anticipated to only be about half of what was earlier projected.
“Back in April the taxpayers were kind enough to approve a bond issue for us,” said Don Adkisson, district director of finance. “We knew that would take a hit this year as far as what would happen with our mill levy.”
The mill levy for the bond payments was anticipated to be about 8.5 mills for this first year. Due to increases in the district’s assessed valuation and the amount of state aid, the mill levy will be 7.9 mills.
That will increase the taxes on a $100,000 home by $1.57 per month. Originally, supporters of the bond issue projected an increase of $3.26 per month.
“A couple of good things that did happen since we put the information out to the public were that our assessed valuation is higher than we anticipated and our state aid went up,” Adkisson said. “We projected 21 percent from last year. This year it is 24 percent. Using that information our mill levy will not increase as much as what we had originally projected.”
The district’s proposed budget for the upcoming school year is $69,043,158, an increase of $2,555,676 from the previous school year, Adkisson said.
The majority of the increase is due to a state hike of $58 in base state aid per student. Last year, the base state aid per student was $3,780. In the upcoming school year the amount will raise to $3,838 per student. The budget amount is based on no enrollment increase in the school district, Adkisson said.
The overall budget also includes anticipated increases in the capital outlay fund due to the $66.6 million school bond issue that passed in April.
“That budget is quite a bit higher than it was last year,” Adkisson said. “That will allow us to look at some of the projects in the Process for Success effort.”
Bond and interest expenditures for the next year have increased to include the payments from the bond issue. The bonds have all been sold and construction has begun on two roof projects. Other projects have been approved, but not started.
Overall, the mill levy for the district will increase by 1.635 mills to a total of 52.265 mills. The increased mill levy is due to the increased bond payment mill, which is partially offset by a reduction in the supplemental general levy due to an increase in state aid for that fund.
The Derby Recreation Commission mill levy is an additional 7.001 mills. The DRC’s mill levy is also included in the district’s since it’s the DRC’s taxing body.
“That still leaves us at the bottom of the mill levies in Sedgwick and Butler counties,” Adkisson said.
Derby Public Schools will hold a public hearing on its 2012-2013 budget at its next school board meeting on Aug. 13 at 6:30 p.m. at Derby City Hall. The school district must hold a public hearing before the school board can vote to adopt the budget.
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