Those who reside in Nebo School District may have questions about their recent 2020 Property Tax Notice. Please be aware of the following:
- Nebo School District is proposing to keep the tax rate for this year the same as the tax rate for last year. This rate matches the lowest rate over the past ten years.
- If the value of a property remains the same this year as it was for last year, the property tax payment to Nebo School District will remain the same. Any payment increases are due to property valuation increases.
- Nebo School District is mainly going through "Truth-in-Taxation" to transfer part of the District tax rate devoted to paying its bond payments (debt service) to the District tax rate devoted to capital improvements. Nebo School District is making this transfer as part of its plan to use capital improvement funds to complete the six building projects approved in the 2018 bond election.
- Keeping the tax rate the same as last year will also generate approximately $2M in operating funds. This increase will help the District deliver both at-school and remote learning opportunities to students. Due to COVID-19, offering multiple learning environments is necessary for our students but is certainly a more expensive instructional model. The $2M increase will help soften the financial impact of providing an exceptional educational experience for our students plus assist with other expenses related to the COVID-19 pandemic.
Please review your Property Tax Notice and compare the total of the three taxes attributable to Nebo in the “2019 Taxes” column to the total of the three taxes attributable to Nebo in the “2020 Proposed Tax Due if Budget Approved” column. Any changes will be directly tied to the change in assessed value of your property. For instance, if your assessed property value increased by 4.6% then your property tax due to Nebo School District will increase by 4.6%. Please see the following link for an example of an actual Property Tax Notice.
In short, the total Nebo tax rate for last year was 0.008749 and the proposed total Nebo tax rate for the coming year is also 0.008749. Therefore, if you are paying an increased dollar amount it is because your assessed valuation increased.