Property owners won’t be giving as much money to the Austin public schools in 2000.

Friday, September 17, 1999

Property owners won’t be giving as much money to the Austin public schools in 2000.

The school district’s property tax levy will be 7.88 percent lower than in 1999.

"We are having a decrease when most districts are having an increase," said Lori Volz, the district’s financial accountant. Volz said that on average district levies are rising 3 percent throughout the state.

Austin’s school tax levy stands at $6.52 million.

And that doesn’t include something called the Education Homestead Credit, which will be determined by the Mower County auditor and lower the levy even more.

The levy is lower, in part, because the district had a debt-service fund balance.

"We had more than adequate dollars to pay for debt," Volz said. Private donations had a role in the district being able to pay off its annual debt and retain a fund balance. The district’s debt includes money owed on the school district-wide renovations from the early 1990s.

When a district has a debt-service fund balance, the state adjusts the tax levy accordingly. In the Austin school district’s case, the state trimmed the levy by almost $537,000.

"They make sure we have what we need," Volz said, "but not more than we need."

It should be noted that the debt-service fund and the general fund are completely different funds. A balance in the debt-service fund could not legally be transferred to the general fund for use on salaries or books or other operational expenditures.

Taxpayers should notice the tax relief when they receive their Truth in Taxation notices for 2000. Volz said taxpayers will notice the decrease on the school district’s share of the tax. She could not speak for the city’s and county’s shares.