Troy schools see bigger budgets
The Western News | August 27, 2021 7:00 AM
Administrators with Troy Public Schools signed off an increase in the district’s mill levy for this fiscal year, but said that property owners can expect a drop in real estate taxes thanks in part to an influx of new residents.
School board members approved budgets for the elementary and high school districts with mill levies of $2,899,539.15 and $2,172,419.51, respectively, during an Aug. 12 meeting. Last year the elementary district levied $2,796,028.37 and the high school district levied $2,146,464.17.
Despite the increases, the taxes on a home valued at $100,000 are set to drop by $17.21.
Superintendent Jacob Francom said Troy’s taxable value had grown, leading to an increase in the value of the district’s mill and a decrease in taxes on individual property owners.
“We have a lot more people moving in. We have a lot more houses being built,” he said. “I’ve seen more subdivisions in the past four months than I’ve seen in the past 10 years.”
Francom expected the trend to continue at least into next year.
Last year, property owners with a house worth $100,000 saw a $7 saving. That was the first time in several years that taxes had fallen, according to Francom. Troy Public Schools’ taxable values have gradually risen since about 2015 when Revett Mining Company shuttered the Troy Mine.
As in recent years, school officials increased transportation funds for both the elementary and high school districts. Both districts saw budgeted funds grow by $20,000, with the elementary district budgeting $350,000 and the high school district allocating $300,000. Some of these costs will go towards paying for an extra staff member to help with maintenance, Francom said.
Budgeted tuition funds will remain at $60,000 for the elementary district and $45,000 for the high school district. This fund can be used to pay tuition for students who attend school from outside of the district.
To help pay for special services for disabled students, Francom said the state Legislature permitted districts to raise extra tuition funds following a specific calculation. Since the fiscal year starting in 2012*, the elementary and high school district budgeted tuition funds have risen from $2,641.14 and $0.00, respectively.
The amount the high school district budgeted for its general fund dipped from $1,390,319.62 last fiscal year to $1,377,450.47. The elementary district saw an increase from $1,877,781.13 to $1,936,420.91 in its budgeted general fund.
Budgeted retirement funds increased from $280,000 to $300,000 for the elementary district and $175,000 to $200,000 for the high school district.
Both the elementary and high school districts saw $5,000 increases in their budgeted adult education monies. The elementary district budgeted $40,000 while the high school district budgeted $45,000. These funds pay for free education services for qualified adults aged 16 and older.
School board members lowered the budgeted building reserves for both districts. The elementary district saw a drop from $79,990.96 last year to $61,635.06. The high school district dropped from $51,212.33 to $29,399.75.
Allocated debt service funds dropped from $79,612.50 to $78,075.00 for both districts.
The elementary and high school districts have set aside $1,222.36 and $892.03 for their technology funds, respectively.
*A previous version of this article stated these figures were from the fiscal year starting 2013. The correct year is 2012.