§ 14223 School District Tax Rates

This law says a county must set its tax rate high enough to collect the money needed to pay back school district bonds and cover all other district costs, based on the estimate from the county superintendent of schools.

Key Takeaways

•The tax rate must bring in enough money to pay bond principal, interest, and other district costs.
•The amount needed is set by the county superintendent of schools’ estimate.
•If the estimate or the county’s taxable value changes, the tax rate may need to be adjusted.

Example

A school district needs $2,000,000 to pay bond interest and other expenses. The county’s total taxable property value is $100,000,000.

The county must set a tax rate that will bring in $2,000,000 in taxes, so the district can pay its bonds and other costs.

How to Calculate

Tax Rate = (Needed Amount) ÷ (Total Taxable Value)

Get the total amount the district needs (principal, interest, and other expenses) from the superintendent’s estimate.
Find the total taxable value of all property in the county.
Divide the needed amount by the total taxable value.
Multiply by 100 if you want the rate as a percent.

The superintendent estimates the district needs $1,500,000. The county’s taxable property is worth $75,000,000.

Result: Tax Rate = $1,500,000 ÷ $75,000,000 = 0.02, or 2%.

Key Takeaways

•The tax rate must bring in enough money to pay bond principal, interest, and other district costs.
•The amount needed is set by the county superintendent of schools’ estimate.
•If the estimate or the county’s taxable value changes, the tax rate may need to be adjusted.

Example

A school district needs $2,000,000 to pay bond interest and other expenses. The county’s total taxable property value is $100,000,000.

The county must set a tax rate that will bring in $2,000,000 in taxes, so the district can pay its bonds and other costs.

How to Calculate

Tax Rate = (Needed Amount) ÷ (Total Taxable Value)

Get the total amount the district needs (principal, interest, and other expenses) from the superintendent’s estimate.
Find the total taxable value of all property in the county.
Divide the needed amount by the total taxable value.
Multiply by 100 if you want the rate as a percent.

The superintendent estimates the district needs $1,500,000. The county’s taxable property is worth $75,000,000.

Result: Tax Rate = $1,500,000 ÷ $75,000,000 = 0.02, or 2%.

Key Takeaways

Example

How to Calculate

Key Terms

References

§ 14223 School District Tax Rates

Key Takeaways

Example

How to Calculate

Key Terms

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References

Key Takeaways

Example

How to Calculate

Key Terms

Related Statutes

References