By LeAnn R. Ralph
ELK MOUND — Electors in the Elk Mound school district set a gross property tax levy of $2.8 million for the 2015-2016 school year at the annual meeting August 31.
The tax levy for the current school year represents a 2.18 percent increase over last year’s property tax levy.
The $2,834,284 levy for this year compares to a levy of $2,773,876 for 2014-2015, representing a $60,408 increase.
The projected mill rate for 2015-2016 will be $9.29 per $1,000 of property value, compared to $9.27 per $1,000 of property value for 2014-2015.
The increase in the mill rate will amount to $1.49 per $100,000 of property value.
The equalized property value in the school district for 2014-2015 was just shy of $299 million, representing a 5.4 percent increase over the previous year when the equalized value of the district was $284 million.
The average increase in property values over the past ten years has been 2.77 percent per year.
The school district experienced decreases in property values of 1.2 percent in 2008-2009; 1.9 percent in 2010-2011; 3.3 percent in 2011-2012; and a .1 percent decrease in 2012-2013.
The 2015-2016 budget has Fund 10 revenues and expenditures of $11.49 million and total expenditures for all funds of $15.47 million.
In 2014, the Town of Elk Mound had $107 million (36.51 percent) of the school district’s property value; the Town of Spring Brook had $85 million (29.03 percent); the Town of Wheaton had $52.8 million (18 percent); the Village of Elk Mound had $33 million (11.28 percent); the Town of Union had $10.6 million (3.62 percent); the Town of Red Cedar had $1.98 million (.67 percent); the Town of Colfax had $1.7 million (.58 percent); and the Town of Howard had $849,234 (.29 percent).
Fund 50, food service, has a beginning balance for the 2015-2016 school year of $145,548.
Fund 60, pupil activity, has a beginning balance for the 2015-2016 school year of $125,344.
Fund 72, scholarship donations, has a beginning balance for the 2015-2016 school year of $30,388.
In 2014-2015, the Elk Mound school district had 83.65 full-time-equivalency positions with gross salary and fringe benefit costs of $6.9 million.
In 1997-1998, the Elk Mound school district had 58.65 FTE with gross salary and fringe benefit costs of $3.25 million.
In the 2014-2015 school year, the average teacher’s salary was $51,329, with total salary and fringe benefits (including summer school and extra-curricular) of $82,537, representing an increase of $2,567 over the previous year.
In the 2001-2002 school year, the average salary was $42,959, with total salary and fringe benefits (including summer school and extra-curricular) of $61,701, representing an increase of $2,305 over the previous year.