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player ready...Last spring’s School District 302 tax hike referendum will cost many homeowners nearly twice as much extra property tax over this year’s tax bill as district officials had predicted, administrators announced this week. But the district won’t be collecting more money than voters had approved, said Assistant Supt. Tom Runty.
“The 2005 tax rate ended up where we thought it would be, but 2004’s tax rate turned out to be lower than we thought, so the difference between the two is greater” than officials had cited in the district’s referendum campaign, Runty said.
When calculating the amount property taxes would increase, officials had estimated that the school district’s 2004 property tax rate would be $4.65 per $100 equalized assessed valuation. Raising that to the district’s $4.88 maximum tax rate would have cost the owner of a $150,000 house $96 more in taxes each year.
The district’s actual 2004 tax rate is 4.50, making the difference between this year’s tax bills and next year’s 38 cents per $100 equalized assessed value instead of 23 cents. That means the owner of a $150,000 house will pay $189 more in property taxes next year, not $96 as officials had predicted, Runty said.