By Per Peterson
The District No. 2904 School Board on Monday approved a 1.01% levy increase at Monday’s Truth-in-Taxation hearing. The increase amounts to $17,723.49 and leaves the levy at $1,770,582.82 (it was $1,752,859.33 last year).
“The Truth-in-Taxation is something all districts are required to do in the month of December,” Tracy Area Public Schools Supt. Chad Anderson said.
The board also heard from Kyle Kruger from Hoffman & Brobst on the fiscal year 2021 audit report; total revenues for the 2021-22 school year budget totaled $11,044,216, and expenses were at $10,891,913, for a net of $152,303.
Of the budget, $809,361 is referendum combined revenue, which is 12% of all the revenue received by the district. That equates to $10,411 per student.
The Ag2School tax credit will increase to 70% in 2023 on voter-approved levies. The total credit in 2021 is 55%, and that goes up to 60% in 2022, before the 10% jump to 70% in 2023. The Tracy School District’s Ag2School credit is below the state median.
Anderson said a district’s tax levy fluctuates because of a number of different things, such as a change in value or classification to one’s property; change in enrollment numbers; change in valuation of property in the district; local decisions and requirements; adjustment for prior years (estimate to actual); and legislative changes (local option revenue).
See this week’s Headlight Herald for more on this article.