Waterloo school district property owners may get a small reduction in their 2019-20 school taxes.
The Board of Education voted 9-0 Monday to adopt a $40.5 million spending plan for the school year beginning July 1. It must now be approved by voters.
“We are proposing to reduce the tax levy by about $100,000 or .8 percent,’’ said Joanne Slauson, business administrator. “That’s the first time that’s happened since I’ve been here,’’ she added.
The adopted budget calls for a tax levy of $12.46 million, down from the $12.56 million collected last year.
The budget is up 1.3 percent or $533,028, which Slauson attributed to salaries and benefits. State aid is projected to increase from $16.1 to $16.4 million, a 1.9 percent increase. Income from Payments In Lieu Of Taxes (PILOTs) will rise slightly, as will the payment from the del Lago Resort & Casino. The district will use $250,000 from its fund balance and reserves.
For a property owner with an assessment of $100,000, adoption of the budget could see the tax bill they get Sept. 1 drop from $1,404.90 to $1,393.70 or about $11 — around the cost of a small pizza.
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