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Finance Committee Update: Sept. 14, 2023

Sept. 15, 2023

The district's annual Tax Rate Hearing was the focus of this September's meeting of the Finance Board Advisory Committee. Chief Financial Officer Joel Scheible explained how the district sets its tax rates for residential, agricultural and commercial real estate; and personal property.

Based on the preliminary calculation by the State Auditors Office, a blended tax rate is presented to the Board of Education. A public hearing will be held at 7 p.m., Sept. 15, at Lindbergh Schools Central Office. During this hearing, citizens may be heard on the property tax rates proposed to be set by the Lindbergh Schools. The tax rates are set to produce the revenues which the budget for the fiscal year beginning July 1, 2023 show to be required from the property tax. Each tax rate is determined by dividing the amount of gross revenue needed by the current assessed valuation. The result is multiplied by 100 so the tax rate will be expressed in cents per $100 valuation.

The Finance Advisory Committee exists to ensure transparency, accountability and efficiency in District finances. Committee members discuss areas covered by the district’s fiscal management policies. In addition, the Board of Education will direct the specific responsibilities of the committee to review any matters potentially having a significant impact on district finances before the board takes action.