What is a school district’s revenue limit?
This is the time of year when we all are preparing to pay our property taxes. For most of us, it is not something we look forward to each year. A portion of your taxes is for our schools. It might surprise many of you that your school tax is based on formulas that determine the amount of tax that you pay. In 1993, revenue limits were put into place where school districts could no longer tax more than the revenue limits or what the formula allowed. Prior to 1993, schools were allowed to tax an amount of money that was sufficient to complete the larger capital projects such as roofs, replacing boilers, remodeling, safety and security, and other larger projects. Since that time, school districts across the state now must ask taxpayers for dollars through a referendum process to complete those larger projects because the revenue limits or formulas are not generating enough revenue to complete these projects. The Medford School District budget allows for the district to maintain its facilities as best as we can and have worked diligently to do so. We are now at a time when we have those larger projects that we must complete and need to ask taxpayers to assist in our facility needs.
The annual school tax levy is apportioned amongst the individual municipalities based upon Equalized Property Value. For the past 3 years, the Medford School District has approved a tax levy of $8.33 per $1000 of equalized property value.
With interest rates at historic low rates and our growing needs for our facilities, we have been working hard on a solution that we feel is fiscally responsible while sustaining our buildings for now and years to come for our children and grandchildren.
— Audra J. Brooks, SFO Director of Business Services Medford Area Public School District