SJSD Board of Education to take a vote on tax levy planning

ST. JOSEPH, Mo. (KQTV) -- The St. Joseph School District Board of Education will meet Monday to discuss several agenda items, including tax levy planning.

The meeting is scheduled for 5:30 p.m. Monday, Oct. 26, at the Troester Media Center.

District materials outline the current tax levy by fund and options meant to support instructional programs, employee compensation and facilities.

The levy is divided into four funds, each with a different purpose. Rates are stated per $100 of assessed valuation.

Fund 1, the incidental fund, may be used for most district expenses. The rate is $4.3558.

Fund 2, the teachers’ or special fund, is used exclusively for certified salaries and benefits. The rate is $0.

Fund 3 covers debt service, including payments on general obligation bond debt. The rate is $0.5605.

Fund 4 is the capital projects fund, used for equipment and capital projects costing at least $5,000. The rate is $0.

Together, the funds total a tax rate of $4.9163.

Planning materials also describe a possible tax levy transfer. Under that approach, the district could shift levy authority from the debt service fund to the incidental fund while leaving the overall tax rate unchanged.

In a $0.15 example in the packet, the incidental rate would rise from $4.3558 to $4.5058, and the debt service rate would fall from $0.5605 to $0.4105. The combined rate would remain $4.9163.

A transfer must be approved by voters and needs a simple majority to pass.

Draft ballot language in the materials would ask voters whether the board should be authorized to increase the operating tax levy ceiling by $0.15 per $100 of assessed valuation for operating expenses, based on the 2027 assessment.

The district says it expects to reduce the debt service levy by a matching amount, with no net increase in the total property tax levy, estimated to stay at $4.9163.

Using an assessed valuation figure of about $1.37 billion for fiscal 2027, the packet estimates the $0.15 operating shift would mean roughly $2.06 million more in local tax effort for Fund 1.

Over the next five years, the district also plans to continue working toward maintaining a reserve ratio of at least 20% for Funds 1 and 2, in accordance with board policy.

The board’s next meeting is scheduled for Monday, Nov. 9. The meeting will be a work session beginning at 5:30 p.m.