Granite School District Tax Hearing FY 2017-18 August 1, 2017

Truth-in-Taxation Process

Truth-in-Taxation Process June 1 Proposed FY 2017-18 budget made available June 13 – Budget Hearing Tentative FY 2017-18 budget approved Tentative tax rate set (exceeds certified rate by 0.000657) Newspaper advertisements (1/4 page tax increase ad) SL County consolidated Granite School District (July 25, 2017)

Truth-in-Taxation Process Salt Lake County Mailed property tax notices www.propertytax.slco.org August 1, 2017 – tax hearing

Granite Budget and Tax Rates

GSD General Fund Budget – FY 18 Revenue Changes/Budget Savings: Description Amount WPU increase – 4% $9,906,051 Voted/board levy guarantees 1,746,363 Employee turnover savings 1,068,193 Property tax growth 332,295 Total $13,052,902

GSD General Fund Budget – FY 18 Required Spending Increase: Description Amount CTE Maintenance of Effort (2,644 ADM x $127 WPU increase) -335,827

GSD General Fund Budget – FY 18 Employee Recruitment & Retention: Description Amount Step increases ($4.9 million total) -$3,849,094 Health insurance ($2.3 million total) -1,767,866 COLA - 3% -7,100,115 Total -$12,717,075

GSD General Fund Budget – FY 18 Summary: Description Amount Revenue changes/budget savings $13,052,902 Required spending increases -335,827 Employee recruitment and retention -12,717,075 Balance $0

GSD General Fund Budget – FY 18 Educator Recruitment and Retention: Description Amount 8.67% market adjustment -$16,441,245 Property Tax Increase ($93.92 annually on $259,900 home) 16,441,245 Balance $0

Tax on $259,900 Home – FY 18

Property Tax Notices

Your Property Tax Notice Mailed by S.L. County Auditor’s Office S.L. County Assessor’s Office Sets market value Granite Board of Education Establishes budget and tax rate for the school district Other taxing entities County, city, library, mosquito abatement, special improvement, etc.

Salt Lake County Board of Equalization If the market value shown on the property valuation notice is higher than what you think your property is worth, you should appeal to the Board of Equalization Appeal form and instructions available at: slco.org/propertytax/ Deadline for appeal is September 15, 2017

Statutory Tax Relief (SL County Treasurer) Apply through the SL County Treasurer slco.org/propertytax/ Low income homeowners age 65 or above Indigent tax abatement for homeowners of any age who are unable to pay due to hardship or disability Disabled veterans Blind exemption Deadline for application is September 1, 2017

Recommended Action Adopt the 2017-18 budget Set the tax rate at 0.006779

Board Discussion

Public Comment

Recommended Action Adopt the 2017-18 budget Set the tax rate at 0.006779