Superintendent Mike Murphy is recommending the St. Clair R-XIII School District’s tax rate remain the same for the 14th consecutive year.
The public will have the opportunity to express its views on the topic prior to the board of education’s regular meeting at 6:45 p.m. on Thursday at the central office, 905 Bardot St.
By law, school districts must conduct a public hearing on their proposed tax rates prior to adopting them. The adoption of the rate is scheduled during the board’s regular August meeting that begins at 7 p.m.
St. Clair R-XIII’s tax rate is $3.37 for every $100 of assessed valuation.
The overall levy includes 62 cents per every $100 of assessed valuation for debt service as well as $2.05 in the incidental (operations) fund and 70 cents in the teachers fund.
“I believe we can sustain the 62-cent rate and make our payments for the current year,” Superintendent Mike Murphy told board of education members a year ago. “Sixty-two cents is sufficient.”
At that time, he also said he had considered recommending a raise in the tax amount, mainly because of a projected decrease in assessment values. But in the end, he decided to recommend the same levy.
The same holds true for this year as Murphy believes the district should be able to hold its own with the tax levy remaining the same in a stagnant economy.
According to information provided by the R-XIII school district, estimated real estate values for the current year show $85,148,139 for residential, $23,617,106 for commercial and $5,281,106 for agricultural for a district total of $114,046,835.
The June numbers are slightly higher than the August 2013 numbers of $84,824,784 for residential, $23,408,232 for commercial and $5,310,946 for agriculture. Those total $113,543,962.
June is the latest month the local property value numbers are available for this year.
Personal property assessment for 2014 is estimated at $24,283.943, or $112,726 more than 2013’s $24,171,217.
The estimated 2014 grand total is $138,330,778 compared to $137,715,179 in 2013.
Using the estimated 2014 numbers, the $3.37 overall tax levy is expected to bring about $4,372,718.89 into district coffers during the fiscal year that began on July 1. That amount is broken into $2,659,962,53 in the incidental fund, $908,279.89 into the teachers fund and $804,476,47 into the debt service fund.
Final figures should be released in August.
The tax rates on local property are established to produce the revenues for the budget for the fiscal year that began on July 1.
Revenue is determined by dividing the assessed valuation by 100, multiplying it by the proposed rate and then multiplying by the anticipated collection rate of .9380, the district stated.
In June, school board members approved a 2014-15 budget totaling $20.24 million. For the fourth straight year, the district’s budget is less than the year before.
The rest of Thursday’s agenda for the regular meeting was not available prior to Wednesday’s press deadline.