At a special session of the Warren County R-III School Board on Aug. 27, the body approved the tax rate for the current fiscal year.
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At a special session of the Warren County R-III School Board on Aug. 27, the body approved the tax rate for the current fiscal year.
Superintendent Dr. Gregg Klinginsmith said that one portion of the rate changed slightly, while the others did not.
Of the overall tax levy of $4.0462 per $100,000 of assessed home value, the district’s general fund increased slightly to $3.3145. The debt service fund remains at $0.6503, and the capital project fund remains at $0.0814.
“The general fund is increasing a total of 0.0182,” Klinginsmith said. “The debt service could have gone up as well, but it was rolled back to maintain the current levy.”
Klinginsmith further explained that the debt service rate stayed the same, in accordance with a promise the district made to the public.
“The general funds are calculated from the pro forma forms from the state auditor's office,” Klinginsmith said. “The debt service was rolled back $0.1317 to maintain a no-tax rate increase as promised to the voters. The district could have increased the debt service rate, but approved the recommendation to keep the debt service tax rate the same.”
According to the presentation at the hearing, the district’s total assessed value is $470,111,644. That is a 6.34 percent increase from the previous year.
That figure comes from $367,304,526 in real estate taxes and $102,807,118 in personal property taxes.
New revenue comes from $270,169 in personal property; $762,747 in new construction and improvements; and $181,236 in reassessment.
The percentage of revenue from the reassessment is 0.95 percent.
At a 100 percent collection rate, the expected figure would be $19,021,646, while budgeted collections are currently $18,650,000.
