Tax Rate Drops $1.04
For the second year in a row, Waukee Community School District (WCSD) will lower their school tax levy rate. The tax rate will decrease $1.04. Dropping from $17.61 to $16.57.
Tax rates are primarily established by the state school foundation aid formula. Local school boards have limited ability to increase or decrease taxes. The property tax valuation per pupil has significant influence. One of the primary reasons for the dropping of the tax rate is due to the district’s increasing property valuation. On average the WCSD has experienced five percent growth per year.
The overall tax rate is made of up several components. Here’s how we get to $16.57:
- $9.22952 general fund tax levy- pays for all salaries and benefits, supplies and textbooks, gas for the buses, anything not covered in the items below
- $1.23665 instructional support levy- supports instruction in the class room
- $.39709 management levy- pays for worker compensation, property and casualty insurance as well as early retirements
- $1.67 PPEL ($1.34 voter approved and $.33 board approved Physical, Plant and Equipment Levy)
- $4.05 Debt Service- pays for all general obligation debt that we have sold via bonds to pay for construction
School taxes are just one of the three major components that help determine property tax. All surrounding cities that help complete our district boundaries will pay the same $16.57 tax rate. If a homeowner’s property taxes increases, this may be because the assessed value of the home has increased or due to increase in the city and/or county taxes.