Posted Date: 09/09/2021
The Revenue Neutral Rate Budget Hearing will be at 7 PM on Monday, September 20th at 301 Neosho Street. The USD 244 Budget Hearing will follow at 7:10 PM. Below is a definition of the Revenue Neutral Rate.
"Revenue neutral rate” means the tax rate for the current tax year that would generate the same property tax revenue as levied the previous tax year using the current tax year’s total assessed valuation. To calculate the revenue neutral rate, the county clerk shall divide the property tax revenue for such taxing subdivision levied for the previous tax year by the total of all taxable assessed valuation in such taxing subdivision for the current tax year, and then multiply the quotient by 1,000 to express the rate in mills. The revenue neutral rate shall be expressed to the third decimal place. Click here for RNR document: https://s3.amazonaws.com/scschoolfiles/1051/rnr_form.pdf