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PL PACKET 08151995
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PL PACKET 08151995
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Last modified
12/30/2015 5:30:20 PM
Creation date
12/30/2015 5:30:08 PM
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SP Box #
20
SP Folder Name
PL PACKETS 1995
SP Name
PL PACKET 08151995
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( RECEIVED 07/25 12:53 1995 AT 6125959521 PAGE 4 (PRINTED PAGE 4) 1 <br /> JLL-25-1995 1208 PMSD 866 8462 P.04 <br /> Housa Ressueh Department Sepwmber 1994 <br /> Minnesota School Finaace Page 9 <br /> Levy: A tax imposed on property.The amount of property tastes which a school board may <br /> levy is limited by statute. Each autumn. the state department of education computes the exact <br /> ammmt4 of the limits on the permitted levies for each district. For levies based on adjusted tax <br /> capacity,the previous year's adjusted tax capacity value is used. Each year. school boards hold <br /> truth-in-taxation hearings and then vote on how much to levy and "certify" the levy to the <br /> county auditor. A levy certified in the late fall is collected in the calendar year beginning the <br /> following January. (See Table 24 on page 96 for illustration of the relationship among the years <br /> for valuation and the certification,collection and use of levies.) <br /> Net Tax Capacity (NTC): This value derived by multiplying the estimated market value of <br /> each parcel by the appropriate class (use) rate for that parcel. Class rates range from .45% on <br /> certain low valued agricultural homesteads (residential homesteads with market values of less <br /> than$72,000 art:subject to a class rate of I%) to 4.6% for certain types of <br /> commerciaVlndustrial.property. <br /> }Pup17 [Tait; A weighted count of resident pupils in average daily membership used in the <br /> calculation of we aid and Iocal tax levies. <br /> 1. Amnal Enrollment Weigfrtod by Grade <br /> Pupil units, called actual pupil units, or weighted average daily membership "WADW are <br /> equal to the number of full-time pupils times the appropriate pupil unit weight by grade. <br /> Enro0ment Weights by Grade. <br /> ti <br /> mudagmrten Elementary Secondary . <br /> spy . :Weigbt Weight Weight <br /> �1945 .:_S3 1.06 1-30. <br /> i,=r'-�:.. 1.03 1.30 <br /> :SO 1.0 130. <br /> X1992;': .50 1.0 1.30 <br /> .,50 1.0 1.35 <br /> 1.0 <br /> House Res=ch D"uucm <br /> The additional kindergarten and elementary pupil weights for fiscal years 1994 and later <br /> provide resermA revenue that must be set aside to reduce cicmentary class sizes. <br /> 2. AFDC Pupil Units <br /> AFDC revenue or compensatory revenue is provided to school districts through the <br /> compensatory revenue component of the genera education formula based on the number <br /> of students in the district from families that receive A1FDC. The formula is often referred <br /> to as a"concentration formula" because as the concentration of students from AFDC <br /> families increases, the AFDC revenue per AFDC pupil also increases. While the <br />
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