1. Granite School District
Tax Hearing FY
August 1, 2017

2. Truth-in-Taxation Process

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

4. Truth-in-Taxation Process
Salt Lake County
Mailed property tax notices
August 1, 2017 – tax hearing

5. Granite Budget and Tax Rates

6. 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

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

8. 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

9. 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

10. 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

11. Tax on $259,900 Home – FY 18

12. Property Tax Notices

13. 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.

16. 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

17. 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

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

19. Board Discussion

20. Public Comment

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