by Kate Evans
The Morgan County School Board formally adopted the proposed Fiscal Year 2021 regular state school levy and special levy rates that they approved at their March 17 special meeting. The board has adopted the same levy rates for the last six fiscal years.
The school board’s action took place at their reconvened March 17 special meeting that was held at the school board office on April 21. School Treasurer Ann Bell said the board received a letter from the state auditor that approved the proposed levy rates. There were no public comments regarding the levy rates.
Tax rates
The special levy or excess levy tax rates that were adopted are:
Class I properties—16.08 cents per $100 of assessed value; Class II—32.16 cents; and Class III and Class IV—64.32 cents per $100 of assessed value.
Owner-occupied homes in Morgan County are considered Class II properties.
School regular levy or current expense levy tax rates set by the state that were adopted are:
Class I—19.40 per $100 of assessed value; Class II—38.80 cents; and Class III and Class IV—77.60 cents per $100 of assessed value.
Class I properties, which are personal property used in agriculture, are totally exempt from taxation. Class II properties are owner-occupied residential and farmland properties.
Class III properties are commercial and all other properties located outside of municipalities.
Class IV properties are commercial and all other properties inside of municipalities.
Special levy
For a home appraised at $200,000 with an assessed value rate of 60% or $120,000, the special levy tax would remain at $385.92-the same as the last six years-with the proposed levy rates.
The special levy payment is in addition to regular state school levy taxes, county taxes and also municipal taxes that would be applicable if a homeowner resides within the Town of Bath or the Town of Paw Paw.
Projected revenue
The projected net tax revenue to be collected for Fiscal Year 2021 through special levy taxes is
$4,333,023, some $82,958 more than last year’s projected $4,250,065.
Projected revenue from the state regular school levy for Fiscal Year 2021 is $5,123,099 —$98,085 more than last year’s projection of $5,025,014.
Projected revenue is minus allowances for uncollectables, exonerations, delinquencies and discounts.
The total projected revenue from the combined regular school and special levies is $9,456,122- $181,043 more than last year’s projected revenue of $9,275,079.
Assessed values increase
Total county assessed values for Class II, III and IV properties and projected gross tax collections for Fiscal Year 2021 are 1,071,567,539, an increase of $15,832,003 from $1,055,735,536 in Fiscal Year 2020.
Total assessed values for Class II properties rose to $695,945,850, up $395,644 from last year’s projected value of $691,989,410.
Class III property values jumped to an estimated $331,649,798-an increase of $11,465,530 from the Fiscal Year 2020 value of $320,184,268.
Class IV properties dropped to $43,971,891-a decline of $410,033 from last year’s values of $43,561,858.
Budget process
A school board budget workshop will be held during the Tuesday, May 5 regular meeting that’s scheduled for 6 p.m. at the school board office. The school budget will be approved for publication at the meeting.
A budget hearing is set for Tuesday, May 19 for 6 p.m. with the budget adoption scheduled for later in the meeting. The meeting will be held at the school board office.
