By Emma Laura

USD 383 officials on Wednesday adopted the budget for fiscal year 2026, which will raise property taxes by 5%.

The board also voted to exceed the revenue-neutral rate, which is the mill levy rate that would generate the same amount of tax dollars as the previous year. The state requires school boards to have a public hearing when they want a budget that exceeds that rate.

“Our district has had a trajectory of growth, which means the base rate we receive for students increases the amount of aid we receive from the state,” said Andy Hutchinson, director of business operations. “If we were to maintain revenue-neutral rate when the other factors are increasing, then we miss out on state aid that we get as part of our funding formulas and our having to provide more services with less money when maintaining the revenue neutral rate.”

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By Emma Loura

The proposed USD 383 budget for fiscal year 2025 would raise taxes by 5% for the average homeowner in the Manhattan-Ogden school district.

The USD 383 school board on Wednesday unanimously authorized a mill levy of 59.184 for fiscal year 2026, a 0.725 mill decrease from the 59.909 mill levy in fiscal year 2025. The budget is projected to exceed the revenue-neutral rate.

The revenue-neutral rate is the mill levy rate that would generate the same amount of tax dollars as the year before.

To view the full article visit theMercury.com.

Click here for more USD 383 news.

The post USD 383 proposed budget includes 3% property tax hike appeared first on News Radio KMAN.