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District residents voted at the annual meeting Monday night to allow the school board to levy up to $13.2 million in taxes, about 5.8 percent more than the current year, for a proposed $37.4 million operating budget for 2008-09.
Despite the increase, other factors — such as higher property values — mean a projected tax rate of about $10.24 per $1,000 of a home’s market value, down from the current rate of $10.55. The owner of a $200,000 home would pay about $2,048 in school property taxes under the new rate.
The final amount of the tax levy will not be known and the final budget can’t be approved until October, when student enrollment numbers are in, the amount of state aid determined and the equalized value of all the municipalities established.
Finance Director Jay Clark said his tax levy projections assumed a 9-percent rise in the tax base, but some municipalities have since projected lesser increases, while the village of Holmen is predicting a higher increase. Clark now believes the total effect will be about a 5 percent increase.
