Why did the estimated tax impact change from “No Increase” on postcard #1 sent in mid-September, to the final tax impact amount of "$6.60 per $100K property value" on postcard #2 sent mid-October?
Overview
Prescott School District bases its annual tax impact estimates on the best information available during each communication. The information used to estimate the final levy amount and tax impact for 2024-25 included many variables that are not finalized until all reporting timelines are met by all school districts across the state, DPI, and DOR throughout the fall months.
Local tax bills are impacted by several factors that are shared with school districts by the Department of Public Instruction (DPI) and the Department of Revenue (DOR) between July 1 and November 20 each year. They include, but are not limited to:
- Student enrollment: certified on the 3rd Friday of September each year.
- State equalization aid: released on Oct. 15th each year. It provides 57% of PSD’s general funding, the remaining 43% comes from local taxpayers. This information allowed PSD to calculate the final tax impact for the levy.
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