School District Set To Raise Property Taxes In 2018
Levy scheduled to increase next summer
The Sioux Falls School Board has opted out of a property tax freeze and that could increase your bill next year.
Monday night, the school board voted unanimously to set the district’s 2018-2019 property tax rate. The rate is scheduled to decrease for the 2017-2018 budget to $8.14 per $1,000 in property valuation. But, this vote will then return the rate back to what it is now starting in July of 2018, which is $8.44 per $1,000 in property valuation. The move is expected to allow the school district to add up to $5 million to its reserve fund each year over the next decade. School board members say they’re preparing for possible future funding decreases at the state and federal levels. The money could also be used to hire more staff as the student population continues to grow.
The issue could be brought to a public vote if 5% of registered voters in the district sign a petition in the next 20 days.