Archive for Wednesday, September 6, 2006

Tonganoxie school board approves budget calling for slight tax hike

September 6, 2006

At their Aug. 29 meeting, school board members approved the budget for the 2006-2007 school year. The $19.4 million budget calls for a 0.87 mill increase for a total of 50.699 mills.

Last year's budget was $15.6 million, with a levy of 49.823 mills. A mill is $1 in taxes for every $1,000 of assessed property valuation.

Erickson said the 2006-2007 mill increase was needed to raise the local option budget to 25 percent of the general fund budget. This qualifies the district for new state aid funding to open up a new school. Erickson estimated the state would pay the district from $500,000 to $600,000 per year over a two-year period of time. And, this budget allows the district to pay off a bond payment of $400,000 for the 1986 construction of the junior high building. The payment will be due in fall 2007.

"I'm very pleased with this budget," Erickson said. "I think this certainly will help us fund a number of programs we'll want to fund during the course of the 2006-2007 school year."

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