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Hamilton tax levy drops PDF Print
Thursday, October 20, 2005 6:00 pm
Hamilton School Board members adopted a budget and certified a tax levy Oct. 19 that will drop the mill rate for school purposes by nearly 12 percent. The tax levy for 2005-06 is $22,425,229 -- $467,961 less than the 2004-05 levy. The mill rate is $9.50, which equates to $950 in school taxes for each $100,000 of property value a resident owns. The owner of $100,000 of property last year paid $1,078 in taxes for school purposes.

School officials at the September Annual Meeting predicted the tax rate would drop 59 cents from last year’s rate, but increased state aid and community growth brought down the mill rate $1.28 for each $1,000 of property value. State aid increased nearly 15 percent – from $16.63 million to $19.12 million – and property value increased 11.21 percent rather than the 5.3 percent that had been projected in September.

The expenditure budget increased 4.96 percent -- due in part to the cost of educating 42 more students this year.

Each October, the School Board must adopt the budget, certify the tax levy and establish the tax rate after the Department of Revenue determines property values in the district. Tax bills are sent to property owners in December.