School property taxes are still expected to go up in the Minot Public School District when the final budget is approved next month.
Business Manager Scott Moum told school board members on Thursday that he expects the mill levy to go up 6.08 mills, from 135.19 to 141.27 mills. That would cost the owner of a home valued at $200,000 an additional $54.72 in school property taxes.
According to Moum, 10.20 of the mills levied would be for repayment of the $19 million in bonds that are being used to address the school district's ongoing flood recovery. The district must pay that for the next 20 years. If it weren't for the 10.20 mills being levied for bond repayment, the district's total mills would have declined by 4.12 mills, according to Moum.
Moum said the district's taxable valuation has increased from $129,964,083 last year to an estimated $151,423,718 this year approximately a 16.5 percent increase. Of the $21.4 million increase in taxable valuation, Moum said approximately $9.64 million is due to new growth.
Mills levied include 105.74 for the general fund levy, 10 mills for the high school tuition levy, 10 mills for the alternative education levy, 0.33 mills for a special assessment levy, 10.20 mills for the sinking and interest levy, and 5 mills for a required remodel levy.
Moum said there will be a budget deficit of $1.95 million for 2012-2013. Estimated revenue is $77.6 million; estimated expenditures are at $79.6 million. The proposed budget is about 4.8 percent higher than last year. Wages and benefits make up about 80 percent of the total budget. The district had negotiated a two year contract with employees immediately prior to last year's flood that included a 5 percent increase in salary and benefits during each year of the contract.
Moum also anticipates that the district will receive $900,000 less in tuition from Minot Air Force Base than last year, in part because of changes in federal regulations.
State foundation aid payments are also down from 2011-2012 because there were fewer students than the prior year. State foundation aid payments are calculated based on the so-called Average Daily Membership, which was down 54 students from 2010-2011.
The preliminary budget also includes an additional eight full-time positions this year.
The board is scheduled to approve the final version of the budget at a meeting at 6 p.m. Oct. 4. A hearing will be held at the meeting to give the public a chance to comment on the budget.