Millard officials say they aren’t likely to levy the full 9 cents next year if voters approve the override.
Using only a portion of the authority appears entirely feasible, according to an analysis by The World-Herald.
School board members could cover the district’s projected needs by levying less than 4 cents of the override if property values go up an average amount, even if state aid doesn’t go up.
Superintendent Jim Sutfin is forecasting a 3 percent increase in expenditures next year.
A 3 percent increase on this year’s $227.9 million budget would be about $6.8 million.
Because state aid is subject to a variety of factors, let’s leave it unchanged for this scenario.
If Millard’s valuation increased next year by its five-year average rise of about 2.6 percent, Millard would reap an additional $2.8 million from its $1.05 general fund levy.
The extra revenue from the valuation increase would leave $4 million to be covered by the extra levy authority. That would require a tax hike of 3.8 cents.
How Millard Public Schools' proposed levy override would affect taxes
So, under this scenario, what would be the impact for the owner of a $150,000 house? The combination of the valuation increase and additional 3.8 cents would add $99.33 to the tax bill.
Under this scenario, the total Millard levy would rise from about $1.22 to $1.258. Factoring in the valuation increase, the total school portion of the tax bill on a house valued at $150,000 this year would increase from $1,830 to $1,936 next year.
This scenario is hypothetical, of course. Valuation and state aid decisions rest with the assessor and state lawmakers.