Proposed budget keeps mill rate at historic low level
If the assumptions made in building the 2022-23 Hamilton School District budget are accurate, taxpayers will once again see the lowest mill rate in the 60-year history of the district. The Hamilton School Board gave its approval for a $70 million budget that will be presented to voters at the Aug. 15 Annual Meeting.
The mill rate is projected to be $7.90 per $1,000 of equalized property value – 3 cents lower than the current year. For each $100,000 of property owned, citizens will pay, on average, $790 to support local school taxes. The owner of a $350,000 home can expect to pay $2,765 in school property taxes.
The budget is 2.74% more than the 2021-22 budget and assumes property values will increase 5.76% and state aid will increase .19%.
The levy voters will be asked to approve at the Annual Meeting is $35.9 million compared to $34.1 million in 2021-22.
Residents can learn more about the district budget Aug. 15 beginning at 6:15 p.m. at the Budget Hearing in the Hamilton Fine Arts Center, W220N6151 Town Line Road, Sussex. The Annual Meeting will begin at 7:30 p.m. Residents vote on the tax levy at the Annual Meeting.
2022-23 revenues & expenses
Revenues by source, expenses by function
The 2021-22 tax rate was the lowest in the Hamilton School District’s 60-year history. The mill rate is projected to be $7.90 for 2022-23.
Budget Hearing and Annual Meeting minutes
To view minutes from last year’s annual meeting, click here.