News
รศรรสำฦต Lowers Tax Levy for Third Straight Year
September 11, 2020
The รศรรสำฦต Board of Governors has approved an operating budget for 2020-21, which includes a third consecutive decrease in the property tax levy for the 25 counties served by รศรรสำฦต.
The property tax levy was set at 9.2000 cents per $100 of assessed valuation, down from 9.3117 cents in 2019-20. The decrease comes at a time when valuations across the 25 counties are also down. The college recognizes continued hardships from area floods in 2019 and pandemic challenges in 2020.
โรศรรสำฦต is proud to continue providing quality education to our 25-county service area,โ said รศรรสำฦต Board of Governors Chair Sam Cowan. โTo do this while reducing the tax levy is a tribute to the collegeโs administration and employees.โ
The total tax supported budget for 2020-21 is $71,769,258, which is $591,654 less than the 2019-20 budget.
โWe are pleased to continue the important work of serving students across our 25-county service area in essential careers like agriculture, advanced manufacturing, criminal justice, nursing, information technology and environmental health and safety,โ said รศรรสำฦต President Dr. Matt Gotschall. โOur elected board knows the struggles of area property taxpayers, while making investments to maximize student and community success.โ
In addition to local property taxes, other revenues include state aid, tuition and other sources tied to bookstores and food services, which are affiliated with รศรรสำฦต.
Additionally, the college has budgeted $9,778,020 in the capital improvement fund, a $287,495 increase from 2019-20, and $2,503,394 in a fund for removal of hazardous materials and compliance with the Americans with Disabilities Act (HazMat/ADA), a $1,610,995 decrease from 2019-20. The HazMat/ADA and capital improvement funds are also supported entirely through property taxes from รศรรสำฦตโs 25-county service area.
Property taxes are based on property valuations for the 25 counties served by รศรรสำฦต, which reported a decrease in total valuation of $413,451,322, or a decrease of less than one percent.
Total budgeted disbursements and transfers for รศรรสำฦต for 2020-2021 will exceed $120 million.