Leeds Public Schools

Public MeetingSept. 19, 2015

2014 TaxesTaxable Valuation $10,085,240Each Mill $10,085.24 Dollar AmountGeneral Mills 60.88 $613,989.41Misc. Mills 0 $0.00Special Reserve 2.9 $29,247.20Building Fund 9.65 $97,322.57Bonded Debt 9.65 $97,322.57(HVAC)Total Mills 83.08 $837,881.74

2015 TaxesTaxable Valuation $10,992,912.00Each Mill $10,992.91 Dollar AmountGeneral Mills 62.55 $687,668.14Misc. Mills 0 $0.00Special Reserve 3 $32,978.74Building Fund 10 $109,929.12Bonded Debt 10 $109,929.12(HVAC) $0.00Total Mills 85.55 $940,443.62

Comparison 2014-20152014 2015

Taxable Valuation $10,085,240 $10,992,912.00Each Mill $10,085.24 Dollar Amount $10,992.91 Dollar AmountGeneral Mills 60.88 $613,989.41 62.55 $687,668.14Misc. Mills 0 $0.00 0 $0.00Special Reserve 2.9 $29,247.20 3 $32,978.74Building Fund 9.65 $97,322.57 10 $109,929.12Bonded Debt 9.65 $97,322.57 10 $109,929.12(HVAC) $0.00Total Mills 83.08 $837,881.74 85.55 $940,443.62

Increase in Property taxes

$940,443.62 (2015)- $837,881.74 (2014)= $ 102,561.88 Increase in Property Taxes =

12.24% increase in real Property TaxesAt the same time Taxable Valuation increased $10,992,912 (2015 est.)$10,085,240 (2014) $907,672 Difference or an increase of 9.0%

Staffing Needs

• One might think that with reduced payroll due to retiring teachers, it would have helped this year.

• The change-over in staff did in fact help.• Last year’s total payroll for certified staff was

$1,080,909.17• This year’s total payroll was 1,287,229.68

Causes of Increase

• Blue Cross Blue Shield increased by 9.8%• Our Base Salary increased by 2.14%• We also increased our share of Teacher

Retirement payments from $3,000 to $3,500 Representing a 16.7% increase.

• Our teachers are still the least compensated in the area. We are just barely competitive with area districts.

State Funding Deficit

In addition, the state, in effect, said we need to raise an additional $62,569.40 in property taxes. Also, due to declining enrollment we also lost $36,850 in per pupil payments. This was a total of $99,419 less in state aid from the previous year. That is what we basically made up in property taxes.

Tax HistoryYear Levy % Increase2005 $715,000.002006 $725,000.00 1.40%2007 $735,000.00 1.38%2008 $755,000.00 2.72%2009 $805,000.00 6.62%2010 $515,000.00 -36.02%2011 $515,000.00 0.00%2012 $736,791.00 43.06%2013 $724,787.03 -1.60%2014 $837,853.00 15.60%2015 $940,443.62 12.24%

What does this mean for ME??

• In 2014 property taxes on a home with a true and full of $100,000 was $373.87

• In 2015 property taxes on that same home will be $384.98

• This amounts to an increase of $11.11 or a 2.97% increase.

• Property value for that home did not increase• If property value increases, property taxes also

increase.

Comparison with Other Districts

• If you go to the following website:• https://www.nd.gov/dpi/data/SchoolFinanceFacts/• You will see that Leeds had a Per Pupil Expenditure of

$12,300.81 in 2014-2015.• Out of the 83 school districts with populations of less

than 200 students, this puts us at 56th in terms of Per Pupil Expenditures.

Conclusion

• Please keep in mind that 10 mills of property tax are being levied to help pay for the school improvements which included new windows and a new heating and air conditioning system.

• In addition we have increased our Building fund to pay for other school improvements. This year we painted the outside of the building.

• The hope is, in the future, we will be able to reduce our building fund levy.

• Please feel free to walk around the school and look at the work that was done.

• Thank-you