Lakeville School District Tax Levy Going Down in 2013

Homeowners in Lakeville have had some decent news this month on the property tax front.

First, the City Council announced that property taxes would be going down slightly in 2013. Now, the school district is singing the same tune.

Thanks to the refinancing of millions in debt, the district will save roughly $1 million in debt-service through 2021. As for its impact on this year's levy, Mark Klett, the district's director of business services, said the proposed 2013 tax levy will be $31.8 million—down an additional $300,000 from the September proposed budget of $32.1 million.

All told, that marks a 0.9 percent reduction to the levy from 2012, meaning the school portion of property taxes on the average home—valued at $230,300—will be going down roughly $27, according to Ehlers, the district’s financial adviser.

Earlier this month Lakeville's City Council announced its 2013 budget had been adjusted down as well, resulting in a $20 property tax savings on similarly valued homes in town.

According to a report in Sun Thisweek, the difference in the $1 million savings and the $300,000 reflected in the final proposed tax levy come from anticipated cuts in state funding, declining enrollment, and a new expense: $604,000 to fund post-employment benefits, retiree health insurance benefits paid in addition to pensions.