Linn-Mar property tax rate stays same for 2016-17

MARION - The Linn-Mar school board has certified a $142 million budget for 2016-17 that is expected to keep the district's property tax rate virtually unchanged at $17.38 per $1,000 of taxable valuation.

Action followed a public hearing Monday night, at which no comments, positive or negative, were entered.

Assuming no changes in a property's assessed valuation, changes in the amount of a property's value subject to taxation should make actual tax bills slightly lower for owners of residential and multi-residential property and slightly higher for owners of agricultural property.

There should be no change for owners of commercial property.

Linn-Mar has published a slightly higher tax rate, but an agreement by legislators to provide a 2.25 increase in state funding should bring that rate back down to $17.38.

Despite the state funding agreement and $500,000 in budget cuts, the district is still projecting an operating deficit of between $200,000 and $400,000 for 2016-17. That amount is expected to be mitigated with the use of general fund reserves.