If the assumptions made in building the 2023-24 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 $73.1 million budget that will be presented to voters at the Aug. 21 Annual Meeting.
The mill rate is projected to be $7.10 per $1,000 of equalized property value – 60 cents lower than the current year. For each $100,000 of property owned, citizens will pay, on average, $710 to support local school taxes. The owner of a $350,000 home can expect to pay $2,485 in school property taxes.
The budget is 2.78% more than the 2022-23 budget and assumes property values will increase 5.76% and state aid will increase 10.96%.
The levy voters will be asked to approve at the Annual Meeting is $36.6 million compared to $37.5 million in 2022-23.
Residents can learn more about the district budget Aug. 21 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 immediately follow. Residents vote on the tax levy at the Annual Meeting.