1 of 7

Thetford Town School District�FY 2027 Proposed Budget

2 of 7

Ballot Article

  • Shall the voters of the Thetford Town School District approve the school board to expend $10,475,188 which is the amount the school board has determined to be necessary for the ensuing fiscal year?

3 of 7

​

Homestead Property tax Formula:

    • Education Spending ($10,475,188) / Number of “LTWADM” (formerly: Equalized Pupils) (563.62) =
      • Education Spending per Equalized Pupils ($18,586)*
    • Education Spending per Equalized Pupil(+ difference in state’s Excess spending threshold) ($20,600) / Property Yield Number ($9,212) =
      • Nominal/Base Homestead Tax Rate (2.2362)
    • Nominal Tax Rate (2.2362) – Discount for tax at .19 = 2.0462 (actual Nominal Tax Rate)
    • Nominal Tax Rate (2.0462 / Common Level of Appraisal (85.38%)=
      • Homestead Property Tax Rate (2.3966)

​

​

*This is number prior to adding penalty for state’s “Excess Spending Threshold” of $16,470, thus the difference is added to total ($2,065). Additionally $50.59 is subtracted from total per student for eligible construction Debt

​

​

​

​

​

​

​

​

This year’s formula impact

​

​

​

4 of 7

Last Year’s Numbers applied to this year’s Total

​

​

Homestead Property tax Formula:

(based on last year’s numbers)

    • Education Spending ($10,475,188) / Number of Equalized Pupils (563.62) =
      • Education Spending per Equalized Pupils ($18,586)*
    • Education Spending per Equalized Pupil ($2660) + ($18,586) / Property Yield Number ($8,553) = 2.484
    • 2.484 minus Tax Discount of .18 =
      • Nominal Tax Rate (2.3)
    • Nominal Tax Rate (2.3) / Common Level of Appraisal (87.89%) =
      • Homestead Property Tax Rate (2.61%)

​

​

*Before penalty for exceeding State’s Excess Spending threshold of $15,926 (difference being $2,660), total becomes $21,246

​

​

5 of 7

  • Keeping things efficient while maintaining services
  • Factoring inflation, budget increases have been around 7-8% year over year (6.8% this year)
  • Inflation at 2.8% from 25 to 26
  • Savings realized in multiple areas
  • Some portions being negotiated
  • CLA yet again a driving factor in tax formula

6 of 7

Tax implications (with $600k surplus)

7 of 7

Key Points

​

      • Per Pupil spending is consistent over few years
      • Budget increase is 6.8% (4% w/inflation)
        • State Average 11.9%
      • Key factors in tax increases are property related
      • Cuts have been made in staff
      • TA and TES work collaboratively to establish budget based on financial outlook
      • TA also showing restraint in spending as evidenced by their small tuition increase of 3.65%.

​

​