by KATE EVANS
The Morgan County School Board formally adopted the same proposed regular state school levy and special levy rates for Fiscal Year 2019 that they approved earlier at their March 22 special meeting at Pleasant View Elementary. The board has adopted the same levy rates for the last four fiscal years.
The school board’s action occurred at their reconvened March 22 special meeting that was held at the school board office on April 17. The original March 22 special meeting was adjourned following approval of the proposed 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 four 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 down
The projected net tax revenue to be collected for Fiscal Year 2019 through special levy taxes is
$4,123,432, some $23,866 less than last year’s projected $4,147,298.
Projected revenue from the state regular school levy for Fiscal Year 2019 is $4,875,293— $28,219 less than last year’s projection of $4,903,512.
Projected revenue is minus allowances for uncollectables, exonerations, delinquencies and discounts.
The total projected revenue from the combined regular school and special levies is $8,998,725, some $52,085 less than last year’s projected revenue of $9,050,810.
Assessed values drop
Total county assessed values for Class II, III and IV properties are $1,024,926,285 for Fiscal Year 2019, which fell by $5,728,109 from Fiscal Year 2018, said School Treasurer Ann Bell.
Total assessed values for Class II properties are down $3,484,646 from last year.
Class III properties dropped $4,615,272 from last year and Class IV properties rose by $2,371,809.
Budget process
A school board budget workshop will take place at the Tuesday, May 1 regular meeting at 7 p.m. at the school board office.
The school budget is set to be approved for publication at the Thursday, May 10 regular meeting, which will be held at 9:00 a.m. A budget hearing is scheduled for Tuesday, May 22 for 7 p.m. with the budget adoption set for later in the meeting. Both the May 10 and May 22 meetings will be held at the school board office.
