Top Banner
Granite School District Tax Hearing FY 2015-16 August 4, 2015
24

Tax Hearing FY 2015-16 August 4, 2015. Truth-in-Taxation Process.

Dec 25, 2015

Download

Documents

Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
  • Slide 1
  • Tax Hearing FY 2015-16 August 4, 2015
  • Slide 2
  • Truth-in-Taxation Process
  • Slide 3
  • June 1 Proposed FY 2015-16 budget made available June 16 Budget Hearing Tentative FY 2015-16 budget approved Tentative tax rate set (exceeds certified rate by 0.000178) Newspaper advertisements (1/4 page tax increase ad) SL County consolidated Granite School District (July 28, 2015) Truth-in-Taxation Process
  • Slide 4
  • Salt Lake County Mailed property tax notices www.propertytax.slco.org www.propertytax.slco.org August 4, 2015 tax hearing Truth-in-Taxation Process
  • Slide 5
  • Granite Budget and Tax Rates
  • Slide 6
  • GSD Budget Estimates FY 16 DescriptionAmount WPU increase 4%$8,167,806 Voted/Board levy guarantee (SB 97)4,708,182 All other unrestricted state line-items343,558 Employee turnover savings965,517 Property tax growth783,740 Total preliminary new revenue$14,968,803 Estimated Revenue Changes (Unrestricted):
  • Slide 7
  • GSD Budget Estimates FY 16 DescriptionAmount URS contribution rate (no change in rate)$0 CTE Maintenance of Effort (2,780 ADM x $111 WPU increase)-308,580 Charter school levy offset ($1.79 million to $2.65 million)-859,119 Total required spending increases-$1,167,699 Required Spending Increases:
  • Slide 8
  • GSD Proposed Tax Rate Adjustment - FY 16 DescriptionAmountRateHomeBusiness Charter school local replacement (0.5% increase in tax revenues) $859,1190.000040$5.17$9.41 Tax on $235,200
  • Slide 9
  • GSD Budget Estimates FY 16 DescriptionAmount Step increases ($4.3 million total)-$3,441,173 Health insurance ($2.1 million total)-1,638,559 COLA - 4%-8,990,664 Total negotiation/contractual considerations-$14,070,396 Negotiation/Contractual Considerations:
  • Slide 10
  • GSD Budget Estimates FY 16 DescriptionAmount Estimated revenue changes$14,968,803 Required spending increases-1,167,699 Proposed tax rate increase (charter school funding)859,119 Negotiation/contractual considerations-14,070,396 Program enhancements-589,827 Balance$0 Summary:
  • Slide 11
  • GSD Proposed Tax Rate Adjustment - FY 16 DescriptionAmountRateHomeBusiness Legislature: SB 97$7,526,5520.000342$44.24$80.44 Granite School District Budget: Charter school local replacement$865,1210.000040$5.17$9.41 Debt Service-$2,984,667-0.000138-17.85-32.46 Capital Outlay$2,984,6670.00013817.8532.46 Tax on $235,200
  • Slide 12
  • GSD Proposed Tax Rate Adjustment - FY 16 DescriptionAmountRateHomeBusiness Legislature: SB 97$7,526,5520.000342$44.24$80.44 Granite School District Budget: Charter school local replacement$865,1210.000040$5.17$9.41 Debt Service-$2,984,667-0.000138-17.85-32.46 Capital Outlay$2,984,6670.00013817.8532.46 Tax on $235,200
  • Slide 13
  • School District Property Taxes Tax on $235,200 Value DistrictTax RateHomeBusiness Nebo0.009326$1,206$2,193 Davis0.0085551,1072,012 Alpine0.0081771,0581,923 State Average0.0071959311,692 Canyons0.0069979051,646 Granite0.0069789031,641 Jordan0.0068728891,616 Salt Lake0.0064978401,528 School Year 2015-16
  • Slide 14
  • Property Tax Notices
  • Slide 15
  • Mailed by S.L. County Auditors Office S.L. County Assessors 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. Your Property Tax Notice
  • Slide 16
  • Slide 17
  • GSD Totals$903.44$833.69$880.40$23.04 SB 9744.27 Cert rate/value changes20.30 Debt service reduction-17.86 Certified rate$880.40 Charter schools5.18 Capital Outlay17.86 2015 GSD total$903.44
  • Slide 18
  • GSD Totals$903.44$833.69$880.40$23.04 SB 9744.27 Cert rate/value changes20.30 Debt service reduction-17.86 Certified rate$880.40 Charter schools5.18 Capital Outlay17.86 2015 GSD total$903.44
  • Slide 19
  • 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/ slco.org/propertytax/ Deadline for appeal is September 15, 2015 Salt Lake County Board of Equalization
  • Slide 20
  • Apply through the SL County Treasurer slco.org/propertytax/ 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, 2015 Statutory Tax Relief (SL County Treasurer)
  • Slide 21
  • Adopt the 2015-16 budget Set the tax rate at 0.006978 Recommended Action
  • Slide 22
  • Board Discussion
  • Slide 23
  • Public Comment
  • Slide 24
  • Adopt the 2015-16 budget Set the tax rate at 0.006978 Recommended Action