More surprising, but still somewhat explainable once all the facts are in, is a slight rise followed by a slow downward trend in the mill rate over the past twelve years of so, even as the overall …
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More surprising, but still somewhat explainable once all the facts are in, is a slight rise followed by a slow downward trend in the mill rate over the past twelve years of so, even as the overall school levy amount has held steady or continued to rise. How’d that happen?
While there are many potential factors involved, one could be that the general trend within local fair market (equalized) property values that saw 2019 property values finish out at a cumulative 45.6 percent in value compared to 2001, just narrowly exceeded cumulative inflation for the same period of 44.4 percent, calculated via www.usinflationcalculator.co m. While slight, this means that for all but three of the past twenty years (these three being 2002, 2010, and 2011), the net percentage increase in local property valuation from the year previous has shown growth in line with and/or at least partly independent from inflation, resulting in a higher net value from causes which are inclusive of but not limited to a depreciation in the buying power of the U.S. dollar (thru inflation).
Although a sharp decrease in equalized property value did occur between 2008 to 2009, this did not enter into negative territory taken as a net value from the previous year, hitting bottom at 1.5 percent, whereas inflation did at -0.4 percent for 2009. All told, however, the net increase in equalized value edged out inflation by 1.2 percent, while fluctuations in the property valuation of individual municipalities within the Stanley-Boyd district resulted in slight adjustments to overall contribution percentages for each member municipality to the district tax levy, as will happen.
In line with the nature of a federal republic, however, the local school district is just one of many local governments looking for funds in the upcoming budget year and local taxpayers should still keep their antennae up in terms of how much they might owe to the public purse in this our local and constitutionally organized federal republic— it’s the cost of civilization and good town roads.
