MARSHALL PUBLIC SCHOOLS

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Presentation transcript:

MARSHALL PUBLIC SCHOOLS Tax Levy Hearing for the 2019 – 2020 School Year August 20, 2019

The Hancock Amendment This amendment, passed in 1980, allows school districts to raise their operating fund tax levy ceiling to $2.75, in the instance it is lowered (to remain revenue neutral) by other revenues. In Marshall’s case, the revenue from the pipeline caused the tax rate ceiling to be lowered to $2.68 in 2016. Amendment 2 allowed it to be set at $2.75. Then, in 2017, Marshall voters approved restoring the previous levy of $3.12 from $2.75. Board needs to approve implementing Amendment 2.

ASSESSED VALUATION YEAR COUNTY REAL ESTATE PERSONAL PROPERTY TOTAL Locally Assessed Valuations ASSESSED VALUATION YEAR COUNTY REAL ESTATE PERSONAL PROPERTY TOTAL 2018 – 2019 Saline $123,011,766 $47,057,966 $170,069,732 2019 – 2020 $123,880,605 $46,691,111 $170,571,716 Real Estate valuation increased by $868,839. Personal property valuation decreased by $366,855. Assessed valuation of the Marshall School District increased by $501,984.

Tax Rate Proposed FUND UNADJUSTED ADJUSTED TAXES LEVIED #1 - Incidental $3.1200* $5,321,820.6912 #2 - Teachers $0.0000 $ 0.0000 #3 - Debt Service #4 - Capital Projects TOTAL LEVIED: $3.1200 If tax rate remains at $3.12, tax receipts should increase district revenues by $18,626 over 2018 – 2019 revenues.

Tax Levy Roll-Back The MO State Auditor has set the tax levy ceiling at $3.1697. Because the Marshall voters approved to restore the tax rate to $3.12 in 2017, this is the rate that is proposed for 2019 – 2020. This means Marshall taxpayers will not be charged the full amount of permitted tax, with a roll-back (or decrease) of .0497 This equals $45,115.28 less than could be taxed.