The proposed Buffalo-Hanover-Montrose Dist. 877 levy needs to be approved by Oct. 1.
Due to the number of inputs that go into the levy document, districts have the option to approve the levy at the “maximum” to allow for any final adjustments to be made before the levy is sent to the county auditor’s office for use with the Truth in Taxation notices.
The levy is currently showing a total of $12,783,532. This is a 2.69 percent decrease from last year or a decrease of $354,038.
There are a number of factors that affect the calculations including but not limited to enrollment, property valuations, actual expenditures in certain programs, equalizing factors set in statute, district population, and voter approved ballot questions.
Specifically for this year, the main factors contributing to the reduction in debt service levy is due to the bond refunding last winter, the addition of the levy for the Parkside Elementary School alternative facility project (air handling unit replacement), the addition of the OPEB pay as you go levy, and the decrease in property values.
The district will host its Truth in Taxation hearing as a part of the Dec. 10 school board meeting to discuss the 2012-13 budget and the proposed 2012 Payable 2013 levy and approve the final levy.