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Wednesday, 26 July 2023 08:27

Truth In Taxation

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The Weber School District Board of Education will hold a Truth in Taxation hearing on Wednesday, August 2, 2023 at 6:00 p.m. in the BoardRoom at the District Office, 5320 S. Adams Ave.,Ogden. The purpose of this hearing is to consider increasing the tax rate along with providing opportunity for the public to comment on this matter.

In November 2021, voters approved a $279 million bond to build a new high school, junior high school, and elementary school in western Weber County, along with rebuilding Roosevelt Elementary in Washington Terrace. Escalating construction costs and inflation over the past two years have created some financial challenges in completing the rebuild of Roosevelt. The Weber School Board is considering other options to ensure this project is completed as promised under the 2021 bond.

The Board recently created a Municipal Building Authority which will enable the district to issue revenue bonds for capital projects. This is common practice utilized by municipalities, school districts and other government agencies.

During the Truth in Taxation hearing, the board will position itself to issue a revenue bond for $52 million to complete the Roosevelt rebuild project. The revenue bond will be funded by raising the Capital Outlay Levy; however, the board will also be lowering the Debt Service Levy to offset the tax increase. These adjustments are predicted to have a zero tax impact to taxpayers.

As outlined during the 2021 bond campaign, the board will also be considering making a scheduled adjustment to the local tax rate. This adjustment will go to fund the ongoing expenses associated with operating the three new schools. These expenses include utilities as well essential personnel such as a principal, head secretary, custodian, media specialist, school resource officer, and other non-teacher positions. There will be no increase in costs associated with the rebuild of Roosevelt Elementary since the school already exists with supporting faculty and staff.

http://wsd.net/resources/downloadable/documents-forms/board/bond-2021/3393-bond-election-brochure/file

The board will also consider making a one time adjustment to the Judgment Levy to offset the amount of $453,436 that was awarded to PacifiCorp and CenturyLink after they appealed their assessed property values to the State Tax Commission. This judgment affects tax revenues collected by the state dating back to 2018. 

Members of the public wishing to attend the hearing can sign-up online. Public comments will be limited to three minutes per person.

 

Read 3515 times Last modified on Wednesday, 02 August 2023 07:42