1. INDEPENDENT SCHOOL DISTRICT No. 318
TRUTH IN TAXATION MEETING
TAXES PAYABLE YEAR 2018
BUDGET YEAR

5. PROPOSED LEVY
Current Levy Year $ 11,271, Last Year $ 11,076, Increase of $ 194, or 1.76%

6. CHANGES FROM LAST YEAR
Student Achievement Levy was ended in the last State session $61,800
RJEMS Bonds paid off, and OPEB Bonds payment schedule adjusted -$126,700
Operating Capital Formula Change $88,000
LTFM – the last of scheduled increases allowed by the state +$317,850
+$100,000 less in adjustments –

7. LEVY BY FUND DEBT SERVICE
MS BLDG. BONDS are paid off now
2017 Levy was $778,294.30
2018 Levy will be $ -0-
OPEB BONDS
2017 Levy was $4,149,004.19
2018 Levy will be $4,800,528.50
NET DECREASE of $126,769.99
Levy spread on Net Tax Capacity, Major capital projects
Debt schedule ending in 2018

8. LEVY BY FUND COMMUNITY SERVICE
Components
BASIC COMMUNITY EDUCATION $ 207,075.45
EARLY CHILDHOOD FAMILY ED ,261.73
SCHOOL AGE CARE ,000.00
HOME VISITS ,874.10
TACONITE LEVY REPLACEMENT $ -357,211.28
TOTAL $ 0.00

9. RECAP LEVY BY FUND 1.76% increase from last year DEBT SERVICE $ 0.00
GENERAL – RMV $ 3,618,024.24
GENERAL – NTC $ 2,852,879.68
COMMUNITY SERVICE $
OPEB DEBT SERVICE – NTC $ 4,800,528.50
TOTAL LEVY $11,271,432.42
1.76% increase from last year

10. HOME
Factory
Land
$150, $ 50, $150, = $450,000
STATE FORMULAS – CREDITS
Net Tax Capacity
$ 75, $ 100, $ 125, = $300,000
25% % %
School Levy $1,000
$ $ $ = $1,000
WHAT IF VALUES CHANGE
$75, , $ 25, = $200,000
37.5% % %
$ $ $ = $1,000

11. Budget Information
Because approval of the budget lags certification of the tax levy by six months, the state requires only current year budget information be presented at this hearing.

17. Next Steps
Tonight – The public is invited and allowed to speak and to ask questions concerning the budget and proposed property taxes.
After closing the public hearing tonight, the School Board will consider the information and vote on the final certified tax levy payable in , at their December 18, 2017 meeting.