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MARSHALL PUBLIC SCHOOLS

Attend the tax levy hearing for Marshall Public Schools to learn about the proposed tax rate and its impact on district revenues. Find out how the tax levy ceiling is determined and the roll-back applied to taxpayers.

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MARSHALL PUBLIC SCHOOLS

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  1. MARSHALL PUBLIC SCHOOLS Tax Levy Hearing for the 2019 – 2020 School Year August 20, 2019

  2. The Hancock Amendment • This amendment, passed in 1980, allows school districts to raise their operating fund tax levy ceiling to $2.75, in the instance it is lowered (to remain revenue neutral) by other revenues. • In Marshall’s case, the revenue from the pipeline caused the tax rate ceiling to be lowered to $2.68 in 2016. Amendment 2 allowed it to be set at $2.75. • Then, in 2017, Marshall voters approved restoring the previous levy of $3.12 from $2.75. • Board needs to approve implementing Amendment 2.

  3. Locally Assessed Valuations ASSESSED VALUATION Real Estate valuation increased by $868,839. Personal property valuation decreased by $366,855. Assessed valuation of the Marshall School District increased by $501,984.

  4. Tax Rate Proposed If tax rate remains at $3.12, tax receipts should increase district revenues by $18,626 over 2018 – 2019 revenues.

  5. Tax Levy Roll-Back • The MO State Auditor has set the tax levy ceiling at $3.1697. • Because the Marshall voters approved to restore the tax rate to $3.12 in 2017, this is the rate that is proposed for 2019 – 2020. • This means Marshall taxpayers will not be charged the full amount of permitted tax, with a roll-back (or decrease) of .0497 • This equals $45,115.28 less than could be taxed.

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