Marshall Public
Schools #413
Truth in
Taxation
Hearing for
Taxes Payable in
2014
Welcome
December 2nd, 2013
6:01 P.M.
Board Room-District Office
Presented by:
Bruce Lamprecht
Director of Business Services
ISD 413, Marshall
Truth in Taxation Law
State law initially approved in 1998.
The 2009 legislature made several changes:
Property tax hearing can now be held a regular meeting. Hearing
must be at 6:00 PM or later. Levy may be adopted at the same
meeting.
Requirement to publish meeting notice was deleted.
All school districts must now hold a hearing. Previously some
districts were exempted from the requirement to hold a hearing.
 You are here for the school district’s annual required hearing.

ISD 413, Marshall
Tax Hearing Presentation





State law requires that we present information on the current
year budget and actual revenue and expenses for the prior year
State law also requires that we present information on the
proposed property tax levy, including:
The percentage increase/decrease over the prior year
Specific purposes and reasons if taxes are being
increased/decreased
District must also allow for public comments
Agenda for Hearing
A. Background on School Funding,
Property Tax Levies, and Budgets
B. Information on District Budget
C. Information on the District’s Proposed
Tax Levy for Taxes Payable in 2014
D. Public Comments and Questions
Public Education is Strong in
Minnesota……




In Minnesota, the most commonly taken standardized college
entrance exam is the ACT. Seventy-four percent of Minnesota
high school graduates in 2013 took the assessment, compared
with 54% nationally
Minnesota’s average composite score of 22.9 was the highest in
the nation of the 29 states in which more than half of the
college-bound students took the test in 2013
Minnesota has led the nation in average composite ACT scores
for eight consecutive years among states where more than half
of high school seniors took the test. The national composite
score was 20.7
Marshall’s composite score was 22.7
State of MN Constitution


“ARTICLE XIII MISCELLANEOUS SUBJECTS
Section 1. UNIFORM SYSTEM OF PUBLIC
SCHOOLS. The stability of a republican form of
government depending mainly upon the intelligence
of the people, it is the duty of the legislature to
establish a general and uniform system of
public schools. The legislature shall make such
provisions by taxation or otherwise as will secure a
thorough and efficient system of public schools
throughout the state.”
As a result… School District Funding is Highly
Regulated by the State




State sets formulas which determine revenue; most
revenue is based on specified amounts per pupil
State sets tax policy for local schools
State sets maximum authorized property tax levy
(districts can levy less but not more than amount
authorized by state, unless approved by the voters)
State authorizes school board to submit
referendums for operating and capital needs to
voters for approval
State Funding for Schools Has
Not Kept Pace with Inflation




Increases in basic general education revenue per
pupil have been less than inflation
There has been improvement overall this past year.
Per-pupil revenue for fiscal year 2014-15 is projected
to be $332 below the 2004-05 inflation adjusted
amount
For Fiscal 2014 and 2015, basic per-pupil funding is
projected to increase by at least 1.5% per year, while
most districts’ expenses will likely increase, without
budget cuts, by 2-3% annually
Trends in General Education Formula
Allowance for Minnesota School Districts
FY 05 – FY 15
Trends in General Education Formula Allowance
for Minnesota School Districts, 2004-05 through 2014-15
Adjusted for Inflation
Fiscal Year
Formula
Allowance
CPI-U
(2010=1.0) *
Formula
Allowance
in 2014 $s
Change
Since
2004-05
Formula Allow.
if Adjusted for
Annual Inflation
Annual
Funding
Shortfall
2004-05
4,601
0.8847
5,714
0
4,601
0
2005-06
4,783
0.9184
5,722
8
4,776
-7
2006-07
4,974
0.9423
5,799
85
4,901
-73
2007-08
5,074
0.9769
5,707
-8
5,081
7
2008-09
5,124
0.9908
5,682
-32
5,153
29
2009-10
5,124
1.0000
5,630
-84
5,201
77
2010-11
5,124
1.0203
5,518
-196
5,306
182
2011-12
5,174
1.0503
5,412
-302
5,462
288
2012-13
5,224
1.0676
5,376
-338
5,553
329
2013-14
5,302
1.0807
5,391
-324
5,620
318
2014-15 **
5,382
1.0987
5,382
-332
5,714
332
SOURCE: Formula Allowance and CPI-U are from Minnesota Department of Education,
Referendum Cap Inflation Estimate 2012
* Consumer Price Index for all urban consumers for the Minneapolis-St. Paul area.
** Formula Allowance of $5806 adjusted for change in pupil weighting. The real dollar increase is $80 or 1.5%.
Impact is budget cuts and
operating referendums…




Even with these increases in state funding expected,
44.2%* of districts continue to face projected budget
shortfalls for FY 2014 and FY 2015 and anticipate the
need to do some budget cuts
To meet local school budget shortfalls, voters in 300
districts, or 89.3% of all Minnesota districts, have
approved an operating referendum levy
The state average amount for the current year is
$920 per pupil unit
Of sixty-six questions proposed this year, fifty-eight
passed or 88%
*Survey by Minnesota Association of School Business Officials (MASBO)
ISD 413, Marshall
School District Levy
2013 Payable 2014
2014-2015 School Year
 Fiscal Year 2015


ISD 413, Marshall
School Levy vs. Budget Cycle




Unlike cities and counties, a school district does not
set its budget when setting the tax levy
Property Tax Levy
Final levy set in December
Property taxes levied on calendar year basis
 Budget
 Preliminary budget approved in June, six months later
 School district fiscal year is July 1st through June 30th
ISD 413, Marshall, Minnesota
Contrast of City/Township/County Levy Cycle to School District Levy Cycle
2013
2014
2015
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D
A E A P A U U U E C O E A E A P A U U U E C O E A E A P A U U U E C O E
N B R R Y N L G P T V C N B R R Y N L G P T V C N B R R Y N L G P T V C
Legislation
City/Twp/County
Tax Levy Decision
Collection of Levy
Budget Year
School District
Tax Levy Decision
Collection of Levy
Budget Year
Budget and Levy Adoption
Calendar
2013
2014
2015
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D
A E A P A U U U E C O E A E A P A U U U E C O E A E A P A U U U E C O E
N B R R Y N L G P T V C N B R R Y N L G P T V C N B R R Y N L G P T V C
Audit 2012-2013
2013/2014 Current Budget
14-15 Budget Preparation
Adoption of 14-15 Budget
Update Current Budget Year
Final Current Budget Year Update
Tax Levy Decision
Collection of Levy
2014-2015 Budget Year
Property Tax Share By
Governmental Entity
Change in Tax Levy Does Not
Determine Change in Budget



Tax levy is based on many state-determined
formulas
Some increases in tax levies are revenue
neutral, offset by reductions in state aid
Expenditure budget is limited by state-set
revenue formulas, voter-approved levies, and
fund balance, not just by tax levies
School District Budget
Current School and Fiscal Year
2013-2014
MARSHALL PUBLIC SCHOOLS
2013-2014 BUDGET OVERVIEW
REVENUES
12-13 Actual
---------------$21,188,317
13-14 Budget
----------------$22,199,330
Foodservice
$1,365,551
$1,406,675
3.0%
Transportation
$1,413,297
$1,341,231
-5.1%
Community Services
$2,053,008
$2,029,949
-1.1%
$723,775
$740,034
2.2%
$3,197,267
-88.2%
$30,914,486
-42.7%
General Fund
Capital Outlay
Debt Service
Total
$27,199,619
$53,943,567
% Change
------------4.8%
MARSHALL PUBLIC SCHOOLS
2013-2014 BUDGET OVERVIEW
EXPENDITURES
12-13 Actual
---------------$20,993,295
13-14 Budget
----------------$22,116,969
% Change
------------5.4%
Foodservice
$1,353,286
$1,394,085
3.0%
Transportation
$1,346,660
$1,309,514
-2.8%
Community Services
$2,044,952
$2,077,641
1.6%
$842,447
$896,621
6.4%
General Fund
Capital Outlay
Debt Service
Total
$3,434,288
$30,014,928
$26,752,346
$54,547,176
679.0%
81.7%
2013-2014 Revised Budget
Analysis
REVISED PROJECTED JUNE 30TH, 2014 ENDING FUND BALANCES
FUND
STARTING REVENUE EXPEND
GENERAL
$3,509,483 $22,199,330 $22,116,969
FOODSERVICE
$174,799 $1,406,675 $1,394,085
TRANSPORTATION
$66,637 $1,341,231 $1,309,514
COMMUNITY SERVICES $130,243 $2,029,949 $2,077,641
CAPITAL OUTLAY
$644,496 $740,034 $896,621
DEBT REDEMPTION $24,182,200 $3,197,267 $26,752,346
TOTAL
$28,707,858 $30,914,486 $54,547,176
ENDING
$3,591,844
$187,389
$98,354
$82,551
$487,909
$627,121
$5,075,168
General Fund Expenditures
June 30th, 2013
Fiscal and Other Fixed Cost
Programs
1%
Site, Buildings, and
Equipment
District and School Admin
11%
4%
District Support Services
Pupil Support Services
4%
5%
Instructional Support Services
5%
District and School Admin
District Support Services
Regular Instruction
Vocational Instruction
Exceptional Instruction
Instructional Support Services
Exceptional Instruction
19%
Regular Instruction
49%
Pupil Support Services
Site, Buildings, and Equipment
Fiscal and Other Fixed Cost Programs
Vocational Instruction
2%
ISD #413, Marshall
Marshall Public Schools
Summary of Staff Employed
2012-13
2013-14
12-13 vs
13-14
Percent
Change
Staff Classification
Certified
Actual
Budget
Administration
Teachers
Full-time
Part-time
Nurses
10.5
11.5
9.5%
162
18.02
1.35
165
20.23
1.35
1.9%
12.3%
0.0%
28.5
89
20.1
27.5
82
20.1
-3.5%
-7.9%
0.0%
329.47
327.68
-0.5%
Non-Certified
ASG/Confidential/Others
Support Staff
Custodial
Total
ISD #413 - MARSHALL GENERAL FUND
EXPENDITURES JUNE 30th, 2013
Equipment
1%
Supplies and Materials
3%
Other Expenditures/Transfers
1%
Salaries and Wages
Purchased Services
11%
Employee Benefits
Purchased Services
Employee Benefits
18%
Supplies and Materials
Equipment
Other Expenditures/Transfers
Salaries and Wages
66%
ISD #413-Marshall-General Fund
Expenditures By Object Code
$16,000,000
$14,000,000
$12,000,000
$10,000,000
Salaries and Wages
Employee Benefits
Purchased Services
Supplies and Materials
Other Expenditures/Transfers
Equipment
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
ISD 413, Marshall
ISD #413 - MARSHALL - CHANGE IN GENERAL FUND INSTRUCTION
EXPENDITURES SINCE 2005
60.00%
50.00%
40.00%
30.00%
Regular & Vocational Instruction
Exceptional Instruction
20.00%
10.00%
0.00%
-10.00%
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
ISD #413, Marshall
ISD #413 - MARSHALL - GENERAL FUND EXPENDITURES BY PROGRAM
$12,000,000
$10,000,000
2005
$8,000,000
2004
2006
2007
2008
$6,000,000
2009
2010
2012
$4,000,000
2011
2013
$2,000,000
$0
Fiscal and Other Fixed
Cost Programs
Site, Buildings, and
Equipment
Pupil Support Services
Instructional Support
Services
Exceptional Instruction
Vocational Instruction
Regular Instruction
District Support Services
District and School
Admin
ISD #413, Marshall
ISD #413 Audit Highlights





The audit results for 2012-2013 showed an ending
General Fund balance of $3,509,483 or 16.7% of
expenditures
The Transportation Fund showed an ending fund
balance of $66,637 due to revenue coding changes
The Capital Outlay Fund ended with a balance of
$644,496 exceeding the established goal of $400,000
by a goodly amount
The Foodservice Fund ended with a slightly less
ending fund balance than projected
The Debt Service Fund balance is quite significant
because of the bond refunding that took place
2013-2014 DISTRICT #413 EXPENDITURE BUDGET
DEBT REDEMPTION
10%
CAPITAL OUTLAY
3%
COMMUNITY SERVICES
7%
TRANSPORTATION
4%
FOODSERVICE
4%
GENERAL
72%
ISD #413, Marshall


The Revised General Fund Budget for 20132014 shows a $114,478 excess in revenues
over expenditures. This includes a transfer of
$31,717 from the Transportation Fund to zero
out the fund balance.
This translates into a $3,594,844 ending fund
balance or a 16.25 fund balance percent with
a stated, approved goal of 8.0% (fund
balance/expenditures) being the bare
minimum.
How Much Revenue is
State Aid vs. Local Sources?
General Fund Revenues By
Source
General Fund Revenue Sources
by Percent
ISD 413, Marshall
General Fund Changes in Basic Per Pupil Allowance
1997-98
$3,581
2.17%
1998-99
$3,530
-1.42%
1999-00
$3,740
5.95%
2000-01
$3,964
5.99%
2001-02
$4,068
2.62%
2002-03*
$4,601
13.10%
2003-04
$4,601
0.00%
2004-05
$4,601
0.00%
2005-06
$4,783
3.96%
2006-07
$4,974
3.99%
2007-08
$5,074
2.01%
2008-09
$5,124
0.99%
2009-10
$5,124
0.00%
2010-11
$5,124
0.00%
2011-12
$5,174
0.98%
2012-13
$5,224
0.97%
2013-14
$5,302
1.49%
Total Change Per Pupil
$1,721
48.06%
Revenue-Adjusted For
Inflation
ISD #413 - MARSHALL
FUND BALANCE/CASH BALANCE ANALYSIS
GENERAL FUND
$4,000,000
$3,000,000
$2,000,000
$1,000,000
FUND BALANCE-ENDING
ADJUSTED CASH BALANCES
$0
($1,000,000)
($2,000,000)
($3,000,000)
($4,000,000)
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Proposed 2014 Property Tax
Levy




Determination of levy
Comparison 2013 to 2014 levies
Specific reasons for changes in tax levy
Impact on taxpayers
ISD 413, Marshall
Authority for School Levies
A School District Tax Levy must be either:
 Set by State Formula
or
 Voter Approved
Property Tax Background



Every owner of taxable property pays
property taxes for the various ‘taxing
jurisdictions’ (county, city or township, school
district, special districts) in which the property
is located
Each taxing jurisdiction sets its own tax levy,
often based on limits in state law
County sends out bills, collects taxes from
property owners, and distributes funds back
to other taxing jurisdictions
School District Property Taxes





Each school district may levy taxes in up to
30 different categories
‘Levy Limits’ (maximum levy amounts) for
each category are set either by:
State law, or
Voter approval
Minnesota Department of Education (MDE)
calculates detailed levy limits for each district
Property Tax Background
School District Property Taxes


Key steps in the process are
summarized on the next slide
Any of these steps may affect the taxes
on a parcel of property, but the district
has control over only 1 of the 7 steps
Legislative Changes Do Affect
Tax Levy





The 2013 Legislature approved significant
changes in school funding formulas which will
affect tax levies payable in 2014
State aid for operating referendums was increased, resulting in
reductions in tax levy for most districts
State allowed some districts to add new board-authorized
referendum revenue and location equity revenue, which will
increase tax levies for some districts
State aid for operating capital revenue was also increased,
resulting in reductions in tax levy
State added a new “Student Achievement Levy” which will fund
some of the basic general education revenue for all districts
The Homestead Credit Shift


The 2011 legislature repealed the
Homestead Market Value Credit
In its place, the Legislature
implemented a Homestead Market
Value Exclusion
Property Tax History-$150K
Parcel
Payable
Year
Primary
School
Year
Parcel's
Market
Value
District
Total
Levy
Rate
Against
RMV
Rate
Against
NTC
Property Taxes by Year and Property Type
Residential
Commercial
Agricultural
Homestead
Industrial
Land & Bldg
2001
2001-02
150,000
5,249,302
0.001141
0.657324
$1,157
$1,650
$542
2002
2002-03
150,000
1,780,059
0.000057
0.233595
$359
$534
$193
2003
2003-04
150,000
1,685,744
0.000064
0.209072
$323
$480
$172
2004
2004-05
150,000
3,568,331
0.000537
0.374747
$643
$924
$309
2005
2005-06
150,000
3,556,922
0.000566
0.340827
$596
$852
$281
2006
2006-07
150,000
4,253,869
0.000657
0.369130
$652
$929
$305
2007
2007-08
150,000
4,442,638
0.000652
0.345149
$616
$874
$285
2008
2008-09
150,000
5,427,676
0.001596
0.344482
$756
$1,015
$284
2009
2009-10
150,000
5,560,578
0.001594
0.327338
$730
$976
$270
2010
2010-11
150,000
5,489,763
0.001610
0.289605
$676
$893
$239
2011
2011-12
150,000
5,714,438
0.001662
0.308009
$711
$942
$254
2012
2012-13
150,000
5,880,186
0.001641
0.300163
$696
$922
$248
2013
2013-14
150,000
6,181,077
0.001665
0.296456
$694
$917
$245
2014
Excluding Addition
2014
Including Addition
150,000
150,000
5,599,469
5,599,469
0.001419
0.001419
0.274163
0.274163
$624
$624
$830
$830
$226
$226
Changing School District
Property Taxes
The Graph presents the changing School District Property taxes in MARSHALL from 2001-2014 with simulation for 2014 taxes.
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
Pay 01 Pay 02 Pay 03 Pay 04 Pay 05 Pay 06 Pay 07 Pay 08 Pay 09 Pay 10 Pay 11 Pay 12 Pay 13 Pay 14
Homestead Commercial Farm
Comparable Levies On
Residential Homesteads
Pay 2014 DOES NOT INCLUDE any additional levies from elections held in 2013.
You may change the District #s below to see estimated taxes in other districts.
Instructions Comment
1 Pay 2001
2 Pay 2002
3 Pay 2003
4 Pay 2004
5 Pay 2005
6 Pay 2006
7 Pay 2007
8 Pay 2008
9 Pay 2009
10 Pay 2010
11 Pay 2011
12 Pay 2012
13 Pay 2013
14 Pay 2014
(FY 2002)
(FY 2003)
(FY 2004)
(FY 2005)
(FY 2006)
(FY 2007)
(FY 2008)
(FY 2009)
(FY 2010)
(FY 2011)
(FY 2012)
(FY 2013)
(FY 2014)
(FY 2015)
Market Value
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
150,000
413
347
518
423
MARSHALL
WILLMAR
WORTHINGTON
HUTCHINSON
1,157
359
323
643
596
652
616
756
730
676
711
696
694
624
1,162
661
638
557
509
548
536
493
561
557
582
599
562
417
1,038
444
626
597
563
544
831
775
718
781
711
750
738
655
1,218
461
435
682
530
508
515
499
503
501
572
558
568
333
Changing Property Taxes On A
$150K Residential Homestead
SCHOOL DISTRICT FUNDS
The school district has three revenue and expenditure funds that receive local tax levies to help support the
various programs included in the funds.
1.
GENERAL FUND LEVY
a.
b.
c.
d.
e.
f.
g.
2.
COMMUNITY SERVICE FUND LEVY
a.
b.
3.
The lease levy to pay the rent for MECLA is included here.
The local operating referendum is also part of this fund.
Equity and Transition levy are two more components of the total.
Lost Interest, Safe Schools, Unemployment and Career & Technical levy make up part of this.
Provides funding for facilities maintenance and instructional equipment.
Provides funds for Health and Safety code compliance, asbestos removal, underground storage tank
replacement, and safety requirements
Integration revenue and QComp levy are also part of this fund levy amount.
Based on the adult population in the District.
Early Childhood levy is based on the number of children under 5 years of age.
DEBT SERVICE FUND LEVY
a.
b.
Based on annual debt retirement schedules. Annual levy is what is needed to pay off bonds.
OPEB (Implicit Rate Subsidy) funding is included in this category.
ISD 413, Marshall
How are the Proposed 2013 School Taxes Spent?
How are the Proposed 2014 School Taxes
Spent?


General Fund
Amount
Provides funding for the district instructional programs, alternative
compensation, integration program, also part of the costs for the maintenance
of technology infrastructure and for the purchase of instructional equipment ,
building maintenance and Health and Safety
$2.691,877.44

Community Education Fund

Levy for Community Education Programs such as ECFE

Debt Service (Including OPEB)

Levy for repayment of principal and interest on district debt
$2,720,474.09

Total Levy
$5,599,469.18
$187,117.65
Pay 2013/Pay 2014 Levy Comparison
Fund
12 Pay 13
General
2,833,931.25 2,691,877.44
Community
Service
General Debt
Service
OPEB Debt
Service
Total
Increase or
Decrease
% Change
-142,053.81
-5.01%
187,117.65
2,904.10
1.58%
3,029,555.32 2,590,059.97
-439,495.35
-14.51%
130,414.12
-2,962.75
-2.22%
6,181,076.99 5,599,469.18
-581,607.81
-9.41%
184,213.55
133,376.87
13 Pay 14
ISD 413, Marshall
Basic general education aid and levy formula
(1) NTC
(2) Sales Ratio
(3) ANTC
(4) Standard Levy Limit
(5) Gen Education Basic Levy Limit
2012
2012
2012
15,402,826
98.6%
15,626,910
FY 2015
0.0%
2013
0.00
2014-2015
Pay 2014
2486.00
5,806.00
14,433,716.00
(7) Basic General Education Aid Revenue
FY 2015
14,433,716.00
(8) General Education Aid Percentage
FY 2015
100.0%
APU-Estimate
Formula Allowance
(6) Basic General Education Revenue
ISD 413, Marshall
District #413 Proposed Property Tax Stmt. for 2014
Actual 2013 Property Tax
Proposed 2014 Property Tax
Voter Approved Levies
$4,403,872.16
$3,287,674.87
Other Local Levies
$1,777,204.83
$2,311,794.31
School District Total
$6,181,076.99
$5,599,469.18
ISD 413, Marshall
The School District Levy is
decreasing by:
$581,607.81
or
9.41%
Tax Levy History
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1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Pay
Pay
Pay
Pay
Pay
Pay
Pay
Pay
Pay
Pay
Pay
Pay
Pay
Pay
Pay
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
$5,149,862.38
$5,063,847.46
$1,780,058.97
$1,685,744.13
$3,568,330.76
$3,556,922.39
$4,253,869.00
$4,442,638.19
$5,427,675.70
$5,560,578.16
$5,489,763.14
$5,714,432.29
$5,880,186.24
$6,181,076.99
$5,599,469.18
2.60% Decrease
1.67% Decrease
64.58% Decrease
5.30% Decrease
111.68% Increase
0.32% Decrease
19.59% Increase
4.44% Increase
22.17% Increase
2.40% Increase
1.27% Decrease
4.09% Increase
2.90% Increase
5.12% Increase
9.41% Decrease
ISD 413, Marshall
What are the main variables that
cause property tax increases and
decreases?
1.
2.
3.
4.
5.
6.
Changes in value of the individual property
Changes in class rates/history
Market Value Homestead Exclusion
Voter Approved Referendums
Ongoing Legislative Action
Changes in the total value of all property in
the district
ISD 413, Marshall
Changes in Market Value
The market values are final and are not a
subject for the upcoming budget hearings.
They were discussed at the local board of
review and county board of equalization
hearings held earlier this year. The final
taxable market values may reflect a reduction
under the limited value law. If this property is
a qualifying homestead, the final taxable
market values may exclude improvements
which you made to this property.
Net Tax Capacity Property
Comparison
Description
Residential
Homestead
Commercial
Industrial
Agricultural
Homestead
(Land &
Buildings)
Property Value
$200,000
$200,000
$200,000
Tax Rate Pay
2014
1.00 %
2.00%
.50%
Net Tax Capacity
Amount
$2,000.00
$4,000.00
$1,000.00
State Property Tax Refunds
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State of Minnesota has two tax refund programs and
one tax deferral program available for owners of
homestead property
These programs may reduce the net tax burden for
local taxpayers, but only if you take time to complete
and send in the forms
For help with the forms and instructions:
Consult your tax professional, or
Visit the Department of Revenue web site at www.taxes.state.mn.us
State Property Tax Refunds
Minnesota Property Tax Refund (aka
“Circuit Breaker” Refund)
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Has existed since the 1970’s
Available to all owners of homestead property
Annual income must be approx. $105,500 or less
(income limit is higher if you have dependents)
Refund is a sliding scale, based on total property
taxes and income
Maximum refund is $2,580
Especially helpful to those with lower incomes
Fill out state tax form M-1PR
State Property Tax Refunds
Special Property Tax Refund
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Available for all homestead properties with a gross
tax increase of at least 12% and $100 over the
prior year
Refund is 60% of the amount by which the tax
increase exceeds the greater of 12% or $100, up
to a maximum of $1,000
No income limits
Fill out state tax form M-1PR
Minnesota Department of Revenue
(651) 296-3781
Senior Citizen Property Tax Deferral
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Allows people 65 years of age or older with a household income
of $60,000 or less to defer a portion of the property taxes on
their home
Taxes paid in any year limited to 3% of household income for
year before entering deferral program; this amount does not
change in future years
Additional taxes are deferred, but not forgiven
State charges interest up to 5% per year on deferred taxes and
attaches a lien to the property
The deferred property taxes plus accrued interest must be paid
when the home is sold or the homeowner(s) dies
ISD 413, Marshall
Whereas, Pursuant to Minnesota Statutes the School Board of Independent
School District No. 413, Marshall, Minnesota, is authorized to make the
following proposed tax levies for general purposes:
General Fund
Community Service
Debt Service
Total Proposed School Tax Levy
$2,691,877.44
$187,117.65
$2,720,474.09
$5,599,469.18
Now Therefore, Be it resolved by the School Board of Independent School
District No. 413, Marshall, Minnesota, that the amount to be levied in 2013
to be collected in 2014 is set at $5,599,469.18. The clerk of the Marshall
School Board is authorized to certify the proposed levy to the County
Auditor of Lyon County, Minnesota.
Next Steps
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Tonight-Board will accept public
comments and questions on proposed
levy
December 16th-Board will conduct
subsequent hearing (if necessary) and
certify the 2014 property tax levy
ISD 413, Marshall
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Public Comments and
Questions
THE END
THANK YOU FOR
ATTENDING!