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
Your link to the biggest stories in the suburbs delivered Thursday mornings.
Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter Get the Newsletter!
- World War II, Korea vet Mathiak dies
- Menomonee Falls Police Reports: July 2, 2015
- Civil War encampment and ice cream social at Old Falls Village
- Wheeling for Healing bike ride scheduled for Aug. 8 supports the Cancer Care Center
- Tornado Brewing opens location in Menomonee Falls
- Menomonee Falls Police Reports: June 25, 2015
- Comedian has eyes on a brighter future
- Menomonee Falls has a sweet way to remove hair
- Menomonee Falls water report now available online
- The Community league hosts their first ever garden tour in Menomonee Falls