New Hampton, Iowa – Some area school districts will be either seeing no change or a drop in property tax levies.
Residents paying the New Hampton levee will see a drop of 2.2 percent at $11.85 per $1,000 assessed valuation.
School officials tell North Iowa News the drop is due to declining enrollment. There are 10 less students in the district but the state allocates funding based on weighted enrollment. There are several variations making up the weighted enrollment.
Another factor is the increase in property values, which contributes to more dollars.
Residents paying the Charles City levee will see no change. Rates will be maintained at $12.75 per $1,000 of taxable valuation.
Board Member Jason Walker:
A 2 percent funding increase from the state along with increases from enrollment and weighted enrollment and property taxes all contributed to the levee rate.
It helps pay for things like salaries for employees, facilities and insurance.