Published Tuesday, June 13, 2000
FARRELL, WHEATLAND
2000-01 budget calls for 4-mill tax increase
Farrell school directors increased real estate taxes 4 mills in the budget adopted Monday. The new budget of $10,187,786 is down $125,450 from the tentative budget, and $418,030 from this year’s spending plan.Directors Edward Zappa and Joe “Peppy” Costa voted against the budget. Zappa said he opposes any tax increase and believed there were areas where more cuts could have been made. He did not specify what areas, saying they had been discussed in executive session. is that allowed? Costa declined to comment.
The tax increase brings the real estate levy to 114 mills.
A mill is $1 for every $1,000 in assessed property value; assessments are one-third of a property’s 1970 market value.
At 114 mills, a property with an assessed value of $5,000 would carry a tax bill of $570, up $20 from this year.
The budget projects using $173,000 from the fund balance, the rainy day savings account that administrators have been trying to use as little as possible. Administrators predict the fund balance will be at $541,000 by June 30, the last day of the fiscal year.