1. Sugar-Salem School District #322 September 2016

2. Feb 2017 – Interest Payment $11,150 Sept 2017 – Principal Payment $1,115,000 Feb 2018 – Interest Payment $11,150 Total Repayments: $1,137,300 If we receive 100% of our taxes this year we will not have to levy for any of this in the 2017-18 school year – this will reduce the levy rate to our patrons significantly.

3. District Budget Market Value of District =Levy Rate $ 1,385,752 $264,491,416 =.00523931 $ 1,158,888 $264,491,416 =.00438157 With Emergency Levy No Emergency Levy

4. 1.Superintendent & business manager create the budget together. 2.School Board – Reviews Budget 3.Budget Hearing is held in June Patrons are Welcome to Attend 4.Business Manager Certifies the Budget Amount to the County in August – this is the final amount

5. The County Assessor sets the property values at fair market value each year. Each property is inspected in person every 5 years. Contact your county assessor if you have questions or would like to appeal their decision.

6. YearLevy Rate 19990.006365873 20000.006253601 20010.006468238 20020.005580853 20030.006618880 20040.005600766 20050.004618543 20060.004020556 20070.001164867 20080.003046113 20090.002379762 20100.002057117 20110.003494298 20120.001982615 20130.004061269 20140.003446635 20150.003965498 Tax Year Levy Rate

7. 1 st half of taxes = December 20 th 2 nd half of taxes = June 20 th The School District receives this money in January and July

8. 1.Fremont.002415166 2.Teton.003578840 3.Jefferson.004266089 4.Madison.004612157 5.Sugar-Salem.005113926 6.Ririe.006974596

9. Currently, home owners in the state of Idaho can get an exemption of up to ½ the value of 1 acre of land and the market value of their primary residence, with an upper limit of $94,745 in 2016. Exemption for $50,000 Home/Land = $25,000 Exemption for $100,000 Home/Land = $50,000 Exemption for $200,000 Home/Land = $94,745 Exemption amount is calculated each year

10. 1.Circuit Breaker Tax reduction for qualified individuals 2.Tax deferral for qualified individuals These are primarily for low income and elderly individuals

11. There are tax exemptions for “personal property” used in a business if the value of these items is under $3,000.

12. If a farmer successfully qualifies their land as “agricultural land” then the assessment on this land is between $25/acre and $700/acre. Their tax bill is determined by the assessed value, not the market value. The State determines these rates each year and they vary according to how the land is used.

13. Bond – up to 5% of full market value ($264,491,416 x.05 = $13,224,570) Plant Facility Levy – less than.4% taxable market value 1 st year (capped by ballot) ($199,285,677 x.004 = $797,142) Supplemental Levy – No limit Based on 12/31/15 Market Value

14. 1.Acquire, purchase or improve a school site 2.Build a schoolhouse or other building 3.Demolish or remove a school building 4.Add to, remodel or repair any existing building 5.Furnish and equip any building – lighting, heating, ventilation and sanitation facilities and appliances necessary to maintain and operate the buildings of the district 6.Purchase school buses 7.Acquire, develop or renovate school facilities to establish, create and develop renewable energy systems

15. Same as a bond with the following additions: 1.Lease and lease purchases for any of the areas approved in bond uses 2.Repay loans from commercial lending institutions to pay for the construction of school plant facilities

16. For all lawful expenses of maintaining and operating the schools within the district

17. 1.Bonds – unlimited 2.Plant Facility Levy – 1 at a time 3.Supplemental Levy – 1 at a time

18. 1.Bond – 2/3 Majority 2.Plant Facility Levy a. 55% if less than.2% market value b. 60% if.2%-.3% market value c. 2/3 if.3% -.4% market value 3. Supplemental Levy – Simple Majority If a bond does not pass you must wait a minimum of 6 months before you can vote on another bond.

19. 1.Receive the money up front 2.State of Idaho Bond Levy Equalization Payment pays at least *10% of the interest cost over the life of the bond to qualifying districts 3.District can have multiple bonds *Complex formula changes this amount every year (It is $278,885 or about 24% of debt repayments in FY17)

20. 1. The district is in debt 2. Issuance costs were $55,000 (lawyer, banker, misc. fees) 3. Interest Costs of $175,150 4. Continuing Disclosure Cost ($2,500/year per bond) 5. Material Event Disclosure Cost ( $500 per event) 6.Longer legal process 7.Restrictions on uses of money

21. 1.No interest payment 2.The district is not in debt 3.No issuance or continuing costs 4.Shorter and simpler legal process 5.Supplemental levies give more freedom for uses of the money

22. 1.Collection of money is slower 2.No State Equalization Money 3.Restricted uses of plant facility levy 4.May not collect 100% of money* 5.Can only have 1 of each type at a time *Our collection rate has ranged between 98-100% since 2007

23. For March 14 th Election: 1.Board Approval – By January 4 th 2.Certify Wording before January 17 th 3.Election – March 14 th For May 16 th Election: 1.Board Approval – By March 1 st 2.Certify Wording before March 24 th 3.Election – May 16 th

24. March, May or August Election: January of 2018 November Election: January of 2019

25. 115 Districts in Idaho 94 Districts have Supplemental Levies 53 Districts have Plant Facility Levies 74 Districts have Bonds 67 Districts have a bond and a levy 10 Districts have multiple bonds As of 12/31/15