Notice has been given to those residing within the Marshfield school district that a public hearing will take place Monday, Aug. 16 at 6:45 p.m. at the Marshfield High School Library with the purpose of considering proposed property tax rates. These include a proposed General Revenue rate of 3.09 and a Debt Service of .60 (per $100 assessed valuation).
“There are two main pieces to this proposal – on the operations side, because of a reassessment, where we had 3.24 that went up and so instead of paying on that 3.24 levy, that’s rolled back to 3.09,” said Marshfield Superintendent Mike Henry. “We’re limited to how much that can increase based on the CPI [Consumer Price Index] that was set last Dec. 30th at 1.4%. So, that is actually the increase you would see on their property taxes… which is a lot better than what people are seeing on their valuation increase.”
The current year’s assessed real estate valuation was $190,033,400 compared to last year’s $167,869,780. For personal property, this year’s valuation was $61,505979 compared to last year’s $56,374,799. The amount of property tax to be budgeted for general revenue is $7,859,198 and debt service is $1,509,239. Which is where the school decided upon the proposed 3.09 per $100 assessed valuation for general revenue and .60 for debt service.
“The other part is the bonded amount. While we could set that higher than what we are – we’re rolling that back to 60¢ which is what is currently was. Just trying to absolutely transparent with our community and doing what we say and we told 60¢ - that what was voted on - and that’s were we going to keep it.”
The estimated increase in tax revenue due to new construction is $299,874 and due to reassessment is $108,510 (1.4%).
“So the revenue from the 3.09 is for everything operational from teacher salaries and the general operation of the school district. The 60¢ helps with the bond projects that, at this point, is a slew of projects from the high school to the bond projects that we did back in 2018. Then the early childhood center, as well, we’re about to begin construction on. Things we voted on over several years,” he explained. “Those are all part of that.”
As far as the early childhood center, the official construction will begin once school begins. See more details by watching future editions of the Marshfield Mail.
No comments on this item Please log in to comment by clicking here