On Tuesday, October 28, the Board of Education passed a $130.5 million balanced budget for the 2014-15 school year.
Total expenditures for the District have decreased a total of 2.0% over the past 4 years. During the same period of time, the inflation rate has increased a total of 8.8%.
The Board of Education also certified the tax levy in the amount of $40,535,653 which is a 3.7% increase from last year. The levy is the amount of revenue the district receives from property taxes. This increase comes after two years of consecutive decreases in the amount of money from our local taxpayers.
Student enrollment is also an important factor in determining revenue. The official ‘third Friday’ resident enrollment count of the Sheboygan Area School District (SASD) is up 19 students over last year, to 10,041 students. For revenue purposes, a three year average of resident enrollment is used to determine state aid. The three year average enrollment for the Sheboygan Area School District increased 81 students from last year. Future enrollment projections show stable to steady enrollment growth.
Property values within the district are also a factor into determining the mill rate. The equalized property value of the SASD decreased slightly by 0.33%, which is the sixth consecutive year of decline.
With an increase in the total levy, the mill rate will increase $0.48 to $12.18 per $1,000 of property value. The tax rate means the owner of a home valued at $100,000 would pay about $1,218. Please note that mill rates will vary based on your municipality.