USD 336 budget to generate $84,464 more in taxes

With a $5.3 million increase in the Holton USD 336 assessed valuation for 2023-2024 school year, a total mill levy nearly identical to last year’s that has been proposed will allow the district to collect $84,464 more in taxes.

The Holton school board Monday evening on a 5-0 vote approved a new proposed budget for publication that has a new district assessed valuation of $65,328,885, up from last year’s $59,974,816. 

The school’s budget hearing has been set for 5:55 p.m. on Monday, Sept. 11 at the district office, immediately after the school’s revenue neutral tax rate hearing set for 5:45 p.m. that day.

The district has announced its new proposed budget will be exceeding the revenue neutral tax rate. 

The district expects to collect a total of $3,489,637 in taxes, up from $3,195,173 last year.

The district’s general fund, with a 20-mill levy, will generate $1,087,151 in taxes while the district’s supplemental general fund (LOB), with a 14.750 mill levy, will generate $963,617 in taxes.

The district’s eight-mill capital outlay fund will generate $522,631 in taxes. Debt service (bond and interest payments) will generate $916,238 in taxes.

Unique to the Holton school district is the fact that USD 336 is the sponsoring district for the Holton Special Education Cooperative that serves its five-member districts and is included in USD 336 budget with budgeted expenses proposed of $6,854,583, up $1,266,423 over last year’s budgeted expenses of $5,588,160.

The school district’s debt (general obligation bonds for the new Holton Elementary School) was listed at $16,925,000 for the new budget, down from $18,875,000 last year.

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