At a Dec. 14 meeting the Jordan School Board certified a $5.8 million school tax levy payable in 2021.
Prior to certifying the levy, District Finance Director Amy Hafemann gave a Truth In Taxation presentation, which the district is required to do each year to be transparent with the public about changes in taxation.
In the 2020 fiscal year the district projected it would overspend its budget. However, an end-of-year audit revealed a positive fund balance of $2,268,496.
“We made some tough choices as far as the budget last year and we knew we were going to spend in a deficit,” said Director Ryan Dahnert, “It’s cool that we’re actually spending a little bit less than we thought we were going to.”
The 2020-2021 projected budget will decrease slightly from 2019-2020, $26,046,414 versus $27,928,238.
The decreases are spread out among the components of the budget — amounts in the general fund, food service, community education and debt service are all projected to decrease in the coming fiscal year.
The referendum market value increased by 5.9% this year, and the net tax capacity increased by 6.4%.
The board needed to approve the 2020-21 levy by Dec. 28, but the Dec. 14 meeting was the final one scheduled for the year.
The levy is made up of a few key components. The largest portion is debt service, about $3.2 million. The general fund is about $2.4 million, and community service makes up a little over $128,000.
If there’s no voter-approved tax levy, a local operating referendum of $724 per student is received by the school district from the state. This is included in the debt service portion of the levy.
As a result of the levy, most Jordan taxpayers will see around a 7% tax decrease depending on home value, assuming taxable market value remains the same.