Some Independent School District 834 homeowners could see lower school district property taxes this year according to information presented at a public hearing during Thursday’s ISD 834 board meeting.
Assistant Superintendent of Business and Administrative Services Ray Queener said that depending on how the economy affected individual home market values, taxes will fluctuate for some homeowners.
Using a home valued at $300,000, Queener said if the home’s value did not change, its school district property tax would fall by $43. If home value dropped 5 percent to $285,000, the school district tax would be $101 less than last year. If the home value went up 5 percent to $315,000, the homeowner could expect to pay $15 more than last year.
Median home values of $300,000 and higher currently exist in seven cities and townships of the 17 currently in ISD 834. All median home values in the district have gone down since last year. The median average value of homes in the school district currently stands at $251,094 also a decrease from last year.
Queener also reported to the board that the school district’s 2012-2013 property tax levy stands at more than $29.5 million, 7.1 percent less than last year.
The overall break down of the now-certified levy is more than $18.9 million in the general fund; $876,450 in the community service fund, and more than $9.6 million in the debt service fund
The school district’s preliminary budget has decreased by 6.3 percent for FY2012-2013 with a grand total of $110,660,480. Board members will discuss and vote on the FY2012-2013 budget at their meeting on Dec. 20.