Residents of the Monticello School District have seen a modest increase in the school district tax levy on their recently received tax statements.
The Monticello School District became a step closer to approving its 2021 levy after holding its annual truth-in-taxation hearing on Monday, Dec. 7.
A year ago the Monticello School Board approved a 4.44 percent in the school portion of local property taxes. But after a year that included the challenges of the COVID-19 pandemic on school operations, taxpayers will be poised to see an overall increase of 1.80 percent in the levy assessed by the Monticello School District.
The final levy figure sits at $12.42 million, up from the $12.20 million levy approved by the Monticello School Board a year ago.
The levy represents a $219,497.22 increase over the 2020 levy amount, according to Tina Burkholder, the school district’s director of business services.
The final 2020 levy of $12.42 million will go for final approval before the Monticello Board of Education at its Dec. 21 meeting.
Whether tax payers in the Monticello School District will see their actual taxes decrease is based on a number factors, including the assessed value of property. If property value assessments set by the Wright County assessor’s office were to remain steady, school district taxpayers would see the decrease in their school property taxes. However, some property owners could see an ever greater increase in the school portion of their property taxes if they saw an increase in the assessed value of their property.
The 2021 general fund levy will be 8,633,811.62, up from $8.465 million in 2020. That’s a 1.99 percent increase. The school district is also projecting a increase in its community education levy, which is projected to go from $357,191.08 a year ago to $364,730.60 in 2021. The $7,539.52 increase represents a 2.11 percent increase. The School district’s debt service levy is also seeing a modest increase, from $3.38 million a year ago to $3.42 million in 2021. That’s a 1.29 percent increase.