Tax Rate Decreases more than 14% for 2022-23 School Year

Tax Rate Decreases More Than 14%
Posted on 10/31/2022
This is the image for the news article titled Tax Rate Decreases More Than 14%On October 31, the Board of Education for the Swallow School District approved and authorized the tax levy of $4,889,863 to operate and maintain the District for 2022-23 school year. This tax levy is down $24,996 which equates to a 0.51% decrease from the previous year’s levy. The overall tax rate decreases from last year’s $4.94 per $1,000 of home value to $4.22, a decrease of 14.57%.

“While the District faces the challenges of frozen revenue limit in the current biennial budget coupled with inflation and the Consumer Price Index nearing 8%, this budget and resultant tax rate show the careful work of the School Board and staff to provide a high quality educational experience for each student while remaining fiscally responsible,” said Melissa Thompson, Superintendent. “This decrease to the tax rate includes the debt portion of the tax levy for the referendum approved by voters in 2018, which has been a zero increase referendum as promised. In fact, the tax rate has dropped from $6.26 per $1,000 of home value down to $4.22 since the 2018-19 school year.”

Based on the state’s school funding formula, the District derives revenue from four major sources: property taxes and local sources (72%); state sources (8%); open enrollment revenue (12%); and federal aid (7%). On October 15 of each year, the Department of Public Instruction (DPI) certifies each school district’s state aid and revenue limit amount for the current school year. Once this state funding is determined, the School Board is required by the State of Wisconsin to approve the District’s levy amounts on or before November 1.

Anyone interested in learning more about the District’s finances is invited to contact Director of Business Services Rob Nelson via email at [email protected] or phone at (262) 367-2000 ext. 102. The Annual Meeting and Budget hearing information can be found on the District’s website within the Department and Services, Business Services tab.
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