Finance & Operations
Truth in Taxation
Finance and Operations Director Gary Kawlewski made the annual Truth in Taxation presentation as required by law. The state determines all revenue formulas, tax policy, and maximum authorized property tax levy amounts. As the property value of the district increases, the state contribution decreases. The district's levy will increase 2.61% or $388,623 as a result of that shift in state and contribution. Comparing BHM to neighboring school districts in Wright County, BHM is ranked 7th lowest at $811, in the amount of tax impact on a $200,000 home. St Michael-Albertville is the highest at $1171 and Dassel-Cokato is the lowest of the 11 districts at $578. These numbers are based on the 2018 Payable 2019 Proposed Truth in Taxation tax rates as published by the Wright County Auditor's office.
After hearing the Truth in Taxation presentation provided by Gary Kawlewski, the Board approved the 2018 payable 2019 tax levy of $15,250,100.07. This is an increase of 2.61% or $388,623 from the Pay 2018 levy. Many residential homestead valuations have increased which in turn has increased the referendum market value of the district by 7.06%. The District again refunded the remaining amount of the bond issue for the Buffalo High School, reducing the levy increase by $96,942.