On the Joint School District No. 2’s website is information concerning the upcoming levy election titled “Supplemental Levy Election Tuesday March 11, 2014.” Within this piece is a statement concerning the fact that currently the district collects $438 per $100,000 of property value. This piece also states that due to “increased property values” this number has dropped to $407 per $100,000 of property value, for a stated loss of $31 per $100,000 of property value.
Here’s the issue. Last I was aware of it, property values increase the funds received by school districts due to the fact that the formula for calculating actual school taxes doesn’t change. Now if in fact the $438 per 100,000 is the rate for the current voter approved levy, then, yes, as property values rise the “per $100,000” amount will decrease as the district is only allowed to collect an exact amount (i.e. $14 million) per year. Thus the district is not “losing” funding (the aforementioned $31 per $100,000) but is only collecting what they were authorized by voters to collect.
Michael R. Maine, Meridian