Menomonee Falls - Pending equalized property value certification, the Menomonee Falls School District is still anticipating a slight decrease in its tax levy and mill rate for the 2012-13 budget year.
In an update to the School Board on Monday, Business Services Director Jeffrey Gross said the estimated 2012-13 tax levy of $38.3 million, a decrease of 0.4 percent from last year, is based on the assumption that equalized property values will not change. The mill rate is expected to decrease by 5 cents per $1,000 of equalized value.
Equalized property values are expected to be released next week, Gross said, along with state aid certification figures, both of which are needed to determine the final budget outlook.
Gross also highlighted some other changes to the budget since it was considered by the public at the district's annual meeting in September.
Resident student enrollment is down from last year by nine students, he said, which is lower than the projected 20-student decrease the district was anticipating.
The budget also has been modified to eliminate the use of the State Energy Efficiency Revenue Limit Exemption to fund a lighting retrofit project at North Middle School, with the district instead utilizing fund balance to cover the one-time capital expense, which will save the district 14 percent on total project costs, Gross said. In addition, the budget increases the amount of debt to be prepaid, from $125,000 to $360,000, thus reducing future interest costs for the district.
The final budget and tax levy will be considered by the Finance and Auxiliary Services Committee on Oct. 17, Gross said, and presented to the full board for adoption on Oct. 22.
- Julie Becker, Correspondent
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