By Myrna Trauntvein
Juab School District Board of Education approved the property tax rate for tax collection this year.
The total rate is 0.008070. The difference between the levy set for 2013 and the one for 2012 is -0,000061.
"Real property went down slightly," said Darin Clark, district business administrator. "Centrally assessed property went up significantly."
Real property is locally assessed and consists of residential, commercial and vacant land in communities included in the school district and in the portions of the county where the district is located.
The Centrally Assessed Team within the Utah State Property Tax Division values all mines, utilities and railroad property that operate as a unit. Values are set and apportioned to taxing entities based on situs of property. The local County Treasurer then bills and collects the tax.
"We are not exceeding our certified tax rate so we will not go through truth in taxation hearings," said Clark.
Real property 2013 values are $342,653,673, said Clark. In 2012, values for real property were $343,101,723.
Centrally assessed property 2013 values are $412,718,479 and in 2012, for comparison, they were $364,601,376, said Clark.
"Most business property, real and personal, is subject to property tax," said Clark. "Real property consists of land, buildings and improvements and personal property is everything not treated as real property."
That would be items like machinery, equipment, supplies and fixtures.
Personal values for 2013 are $30,460,464 for 2013 and were $40,195,107 for 2012.
"The district should realize the funds approved in the budget using this tax rate," said Clark.
Actual new growth for 2013 was calculated as $37,934,410, he said.
Taxes which result from new growth are added to the revenue. The resulting new money does not require the district to count it as funds that would require a truth in taxation hearing.
In 2012, the total revenue generated from total sources was $5,825,189, said Clark.
"In 2013, the total revenue generated is expected to be $6,055,852," he said.
The Basic School Levy is set at 0.001535, General Obligation Bond payments at 0.002355, Capital Local Levy at 0.001912, Voted Local Leeway at 0.000402 and Board Local Levy at 0.001866.
The Juab School District Property Tax Rates for FY 2013 are as follows: M&O Basic State Supported, 0.001651; Voted Leeway 0.000400; Captial Outlay, 0.001900; Board Local Levy, 0.001857; Certified Rate, 0.005808; Debt Service, 0.002323; for the total rate of 0.008131.
The revenue generated from the tax rates would bring in $1,151,888 from M&O Basic State Supported; $301,667 from Voted Leeway; $1,434,794 from Capital Outlay; $1,400,275 from Board Local Levy and $1,767,228 from Debt Service.
The tax on a $200,000 home, with a 45 percent exemption, would be $894.41 for 2013. In 2012 the tax on that home would have been $882.86.
Each year the school district board of education must decide what property taxes they will levy and whether or not they will need to increase the total dollars yielded from those six different tax rates over the prior year budgeted amount.
The Juab School District Board Approved Tax Rate is defined as the total rate that the school district would levy—excluding the Basic Tax Rate, the Debt Service Tax Rate and the Judgment Recovery Tax Rate—so that the district would receive the same dollars as was budgeted in the prior year, plus new growth.
Statutes require that each year a certified tax rate be calculated. The certified tax rate is the rate which will provide the same amount of property tax revenue as was charged in the previous year, excluding the revenue generated by new growth.
The Minimum School Program levy is exempt from the calculation of the certified tax rate.