Park Hill School District August 9, Tax Rate

Impact: Tax Bill on a $200,000 Home SCHOOL DISTRICT2011 TAX LEVYTAX BILLTax Bill ∆ Center 58$6.5751$2,499$0 Hickman Mills C-1$6.3217$2,402-$96 Raytown C-2$6.3200$2,402-$97 Lee's Summit R-VII$6.2979$2,393-$105 Liberty 53$6.0950$2,316-$182 Grandview C-4$5.8936$2,240-$259 North Kansas City 74$5.8898$2,238-$260 Blue Springs R-IV$5.7286$2,177-$322 Independence 30$5.5800$2,120-$378 Fort Osage R-I$5.5000$2,090-$409 Park Hill$5.4133$2,057-$441 Platte Co. R-III$4.5288$1,721-$778

Park Hill School District Tax Levy Fund Levy Fund 1 – Operational/Incidental$ Fund 2 – Special Revenue/Teachers$ Fund 4 – Capital Projects$ Operational Levy$4.8026* Fund 3 – Debt Service$ TOTAL LEVY$ *Operational Levy of $ was not set to Tax Ceiling

Tax Levy Terminology Tax LevyAuthority Amount Amount OPERATING Maximum Authorized Levy Based on last voter approved levy rate Does not change until new election Local Voters $ Tax Rate Ceiling Adjusted annually by State Auditor due to application of Hancock Amendment, Senate Bill 711 and/or voluntary rollbacks State Auditor $4.9117$ Actual Levy Adjusted annually by local Board of Education Local Board of Education $4.8026TBD DEBT SERVICE Tax Rate Ceiling Adjusted annually by State Auditor based upon district’s upcoming debt obligations State Auditor $0.6741$ Debt Service Levy Adjusted annually by local Board of Education to pay back debt (bonds) Local Board of Education $0.6107TBD Voluntary Rollback Voluntary Rollback

Assessed Valuation Change Property *Change% Real Estate 1,142,636,144 1,143,589, ,7920.1% Residential 780,860, ,842, ,1440.1% Agriculture 1,081,562 1,043, , % Commercial 360,049, ,774, , % Railroad & Utility 644, , , % Personal Property 297,801, ,859,62826,057,9578.8% Personal 297,167, ,952,753 25,785,6618.7% Railroad & Utility 634, , , % TOTAL 1,440,437,815 1,467,449,564 27,011,7491.9% * Includes $12,081,154 in new construction & improvements

Reassessment of Real Property Changes in Personal Property New Growth $1,440,437, $1,440,437, Reassessment of Existing Property -$11,127,362* Changes in Personal Property $ 26,057,957 New Growth (Construction & Improvements) $12,081,154 $1,467,449,564 *Results in an increase in the tax ceiling to offset effects of negative reassessment (Hancock Amendment) Assessed Valuation Change

FY2013 Budget FY2013 budget was created anticipating an increase in the tax levy to the operating ceiling and with no increase in the debt service levy. $ = Operational $ = Debt Service After final assessed valuation figures from the county, the tax rate ceiling moved up from $ to $ (+$0.0147).

$68.5 $67.3 $68.8 Scenario 3 Approved FY2013 Budget FY2013 Operational Revenue (in millions) Scenario 1 No Tax Rollup Scenario 2 Tax Rate Ceiling Operational Revenue Impact of Assessed Valuation Decrease Preliminary Calculation Current Levy = $ $1,200,000 Revenue Shortfall $300,000 Unbudgeted Revenue

FY2013 Budget Scenario 1 – No Tax Rollup Outcome Results in $1.2 million revenue shortfall $0 annual tax increase to homeowner with $200,000 home Proposed Action(s) Reduce FY2013 & FY2014 expenditure budgets by $1.2 million OR Decrease operating fund balance by additional 1% (19%) Reduce FY2014 expenditure budget by $1.2 million

FY2013 Budget Scenario 2 – Tax Rollup to Ceiling Outcome Less Deficit Budget Consistent with Long-Range Budget Plan $47 annual tax increase to homeowner with $200,000 home Proposed Action Utilize tax rollup to balance budget Continue to use rollup to fund FliP Project in & Use for fund balance stabilization FY2013 deficit budget shows a 1% decrease in fund balances

FY2013 Budget Scenario 3 – Rollup to $ Outcome Matches anticipated revenue for FY2013 budget $ voluntary rollback for two years (SB 711) $30 annual tax increase to homeowner with $200,000 home Proposed Action(s) Move forward with FY2013 budget as planned Make budget assumption for no tax ceiling increases for

Tax Rate Hearing August 23, :00 PM Notices have been posted per MO Revised Statutes Public notice uses the tax rollup to ceiling scenario (Scenario 2) which provides Board of Education most flexibility and transparency

Park Hill School District August 9, Tax Rate