The USD 480 Board of Education will be discussing the 2023 Revenue Neutral Tax Rate Resolution at the Monday, August 21 board meeting. Resolution 08-21-2023, in accordance with SB 13, would authorize USD 480 to exceed the revenue neutral rate for the 2023-2024 budget. The Revenue Neutral Rate and Budget Hearing will be at 6:30 p.m. in Room C107 of LHS East Campus.
The USD 480 mill levy for 2022-2023 was 50.056, the proposed mill levy for the 2023-2024 year is 50.003, a total reduction of .053 mills.
The General Fund Tax Rate is set by state law at 20 mills. Due to an increase in property values, the calculated Revenue Neutral Rate for USD 480 is 19.489. The USD 480 Capital Outlay Fund is set by the Board of Education and is matched by state funding at a rate of 85 percent.
Attached is Resolution 08-21-2023 authorizing USD 480 to exceed the Revenue Neutral Rate for the 23-24 budget.
