Alexandria Public Schools referendum tax impact lower than expected
Wednesday, December 18, 2019 ALEXANDRIA, Minn.-- Residents of Alexandria Public Schools should see a smaller tax increase than expected next year from the school funding request approved by voters on November 5.
Originally, voters approved additional school funding through an operating levy with an estimated tax impact on the average homeowner ($220,000 value home) of less than $10 per month or $117 for the year.
The lower-than-expected tax impact is due to community growth and higher property values on which the referendum market value and net tax capacity are calculated. The actual tax impact on a $220,000 property will result in an increase of approximately $67 in year one, which is 43% lower than anticipated. Exact property tax impacts will vary based on individual home values and other factors.
That news was presented to School Board members on December 16 as part of the annual Truth-in-Taxation hearing.
“Financial transparency is important to us as we work to be good stewards of our community’s tax dollars,” said Trevor Peterson, Director of Business Services. “We used conservative estimates when explaining the referendum request to ensure the final impact would not be greater than we estimated. The property value and growth in our community have helped to minimize the tax impact on residents while still providing our schools with needed revenue.”
This was Alexandria Public Schools (APS) first operating levy request in 15 years. Operating levies provide essential funding for classrooms, teachers, instruction, utilities and other operating costs. More information about the approved referendum request is available at https://www.alexschools.org/referendum.