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PW-S budget drives home impact of referendum PDF Print E-mail
Written by BILL SCHANEN IV   
Thursday, 11 June 2015 22:15

Board OKs preliminary spending plan that calls for triple-digit hike on tax bills

    The Port Washington-Saukville School Board on Monday approved a preliminary 2015-16 budget that calls for a triple-digit increase in school tax bills for the first of 26 years it will take to repay $49.4 million borrowed after the April 7 approval of the most expensive referendum in the history of the district.

    The district’s tax levy is expected to hit $15.1 million, a $1.4 million, or 10%, jump from this year, to pay for the sweeping $45.6 million renovation of Port Washington High School and a $3.8 million addition to Dunwiddie Elementary School.

    The tax rate is predicted to climb to $9.95 per $1,000 of valuation, a 7.9% increase that equates to 73 cents.

    While the tax rate would be higher than it has been in a decade, school officials pointed out that it would be only 8 cents higher than the 2013-14 rate.

    The owner of a home valued at $175,000 would theoretically pay an additional $128 in school district taxes, although when adjusted by a modest property value appreciation factor of 2%, the increase would be $163 in taxes.

    The owner of a $200,000 home would pay an additional $146 in school taxes. When adjusted for a 2% increase in property values, the increase would be $186.

Last Updated on Thursday, 11 June 2015 22:17
 
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