MPSD property tax will decrease by 1.09%

MPSD property tax will decrease by 1.09%
Posted on 11/04/2019
Superintendent Holzman

The property tax rate for the Manitowoc Public School District will decrease by 1.09% to the lowest level since 2010, under a 2019-20 budget approved by the Board of Education.  


This is the second consecutive year that the school tax levy rate has decreased. The district had anticipated that its school tax rate would increase by 21 cents to $8.25 in 2018-2019 - the first year of a three-year operating referendum approved in April 2018 by voters - and then decrease in years two and three.


However, the district was able to develop budgets that lowered the school tax rate by 14 cents per $1,000 of equalized home value in 2018-2019 and by an additional 8 cents in 2019-2020. A combination of increased state aid and rising property values helped drive the reduction.


MPSD school tax levy rate is the lowest in the county and significantly less than the state’s average school tax rate. 


“We are grateful to the community for supporting our operating referendum in April 2018, and we are excited to report that we are able to lower our school tax rate for the second consecutive year,” MPSD Superintendent Mark Holzman said. 


“This budget allows us to maintain our excellent K-12 programs while adding school safety measures and paying down debt,” he added.


About $490,000 of district fund balance will be used toward debt payment, as part of a district plan to be debt-free by 2024.


With final budgetary figures recently released from the State, the Board of Education on Oct. 22 approved an $80 million budget for 2019-2020 and set the tax levy at $20,144,268. This results in a local tax school tax rate of $7.817 per $1,000 of equalized value, a rate that is 8 cents lower than 2018.  


The Manitowoc Public School District saw a 45% increase to private school voucher aid. Aid to private school vouchers adds $1.5 million to the $20.1 million levy or approximately 7.5% of the total levy. This is an increase from $1,043,550 in 2018.  


State equalization aid increased by 2.78% or $948,464 to $34,134,618. MPSD equalized value grew by 6.39%.

 



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