Final School Budget Raises Tax Rate, Decreases Levy
Tax rate increases while total taxes collected decreases for 2012-13 school year.
After months of deliberations and waiting for final aid and property valuations from the state, the school board approved the Waukesha School District's final budget for 2012-13 and certified the district’s tax rate and levy.
The certified tax rate of $9.59 per $1,000 of home value is an increase of $.34 over last year’s rate. The taxes for Waukesha schools will be $1,918 for a $200,000 home for the school district portion of the tax bill.
The tax rate is determined by city property valuations, which the state determined decreased by an average 5.5 percent, and the tax levy, the amount the district budgets to collect from taxes.
The approved tax levy for 2012 of $82.2 million is a $1.7 million decrease from the 2011 levy, according to the district.
The school district approved the 2012-13 budget in the amount of $157,644,633 million in revenues, including $54.6 million from state sources and $7.9 million from federal sources, and $158,646,548 in expenditures for all funds.
The School Board also approved $1 million in long-term indebtedness. School Board Finance Committee Chairman Joseph Como said that after June 30, 2013, the district will have no long-term indebtedness for capital improvements.