A-R approves 14.54 tax rate for FY12 budget
ARMSTRONG?- By spreading taxes between both wage earners and property owners, the Armstrong-Ringsted School Board in a budget hearing and adoption Monday night approved a revised 14.54 tax rate for the 2011-12 budget year.
That’s down from 16.853 for 2010-11 and from an earlier estimate of 15.158 for the coming year.
The district anticipates to generate $2,425,458 on taxes levied on property with a total budget of $5,898,462.
In discussing the budget, Principal Matt Berninghaus said the district wanted to split the burden between income tax and property tax. He noted the district physical plant and equipment levy income surtax was 2 percent for both 2008-09 and 2009-20 then 5 percent for 2010-11 and 2011-12.
Superintendent Randy Collins said another thing that’s helped is an increase in district valuation from $154 million to $161 million.
Board member Jim Boyer asked a question that is likely on a lot of taxpayers’ minds.
“What would it take to go below 14 (mils)?”
Collins said the district got in trouble the last couple years because the state didn’t send what it had promised.
“We’re really determined to be reasonable with our tax rate but protect ourselves,” Collins said. “Our district’s in solid financial shape but we’ve got to watch our number.”
Collins estimated a year-end balance of $750,000 – while he said Deb Obbink, business manager, had indicated it should have $1 million.
Boyer moved that the board approve the 2011-12 budget, and the board approved.