The Board approved that property taxes be increased by the adoption of a tax rate of $1.36 per the following:
ORDINANCE TO SET TAX RATE
On this date, we, the Board of Trustees of the Schulenburg School District, hereby levy or set the tax rate on $100 valuation for the District for the tax year 2007 (07-08 school year) at a total tax rate of $1.36:
$1.1700 for the purpose of maintenance and operation, and
$ .1900 for the purpose of payment of principal and interest on debts.
The Tax Rate will raise taxes for maintenance and operations on a $100,000 home by approximately $110.50 (compared to the Rollback Tax Rate of $1.04 for M/O).
{ex: $100,000- $15,000 (HS EXP) $85,000 * $1.36 = $1,156.00
$100,000-$15,000 (HS EXP) $85,000 * $1.23 = $1,045.50}
Such taxes are to be assessed and collected by the tax officials designated by the District.