According to the Courier, the Waterloo Community School District’s property tax collections will drop 2.35% under the 2023-24 budget approved Monday by the Board of Education.
Maximum expenditures were set at $208.1 million in the budget, which has a property tax rate of $13.36 per $1,000 of taxable value. That is the same tax rate the district currently has. Overall tax collections will decrease from $38.9 million to $38 million for the fiscal year starting July 1.
The school’s Chief Financial Officer Michael Coughlin said the tax rate has been on the decline for years. In the 2006-07 school year, tit was $16.72 per $1,000 of taxable value. This will be the second year the $13.36 rate has been in place.