Thursday, August 23, 2012
A preliminary valuation report has been released by the state. These are only estimates; we get the final figures October 15 upon which the School Board sets the final levy.
Mike Clark, from Robert W. Baird & Co. Incorporated, has used the state figures to provide an estimated valuation for our District based on the municipal numbers- see link below. Again, it is only an estimate but it gives us an idea for levy planning.
Statewide there have been drops in most districts. In our area the biggest drop is within the PdC City limits with a drop estimated between five and six percent. For the school, this is a hugely significant loss in tax base and this is on top of losses in previous years. We do not know how much of the loss is allocated within the TIF district, but the estimates are that most of the loss may be outside of the TID. The school district receives no tax revenue from the TIF areas as that money flows to the PdC City to be used for economic development and job creation.
The bright spot is the Village of Eastman where there was a 1.9% growth in valuation!
These losses will hurt, but we will make it work. The overall economy seems to be showing signs that it is improving. So, we can be optimistic and hope that the dropping valuation cycle is done and that this is the floor.