CHANGE IN ASSESSED VALUATION. CHANGE IN ASSESSED VALUATION. Comparing the 2006 assessed valuation to that of the 2007 valuation, we can see that there was an substantial increase of $711 million and that translates into a 18.17% increase over last year. ASSESSED VALUATION HISTORY.
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Comparing the 2006 assessed valuation to that of the 2007 valuation, we can see that there was an substantial increase of $711 million and that translates into a 18.17% increase over last year.
When we talk about Assessments, this is probably the most important slide in the discussion. This slide tells us many things.
The District, with the Board’s approval, could levy up to the ceiling amount. If the District did this, the residents of the District would pay on average 32% more than last year. The District, with the Board’s approval, only wants to establish a tax rate that meets the District’s expenditure needs and allows for the instructional enhancements from Prop R. For this reason the administration recommends that we have a blended tax rate of $3.4819 for FY2007-08. The proposed levy is a reduction of over .40 from the tax rate ceiling based on the blended rate.
Comparing this year’s proposed levy to that of last years, we can see there is a reduction of over $.03 between last year’s rate and this year’s proposed rate. Again, please note that voters approved raising the rate $.37 and the Board is reducing it by over $.03.
Here are the revenue projections for FY2007-08. The projected receipts for 2007-08 increase by $21.1 million. This is an increase of 15.87%
A further breakdown of the revenue increase shows the following: