|
|
Sun Prairie Area
School District (SPASD)
|
|
| |
|
NOVEMBER 2022 REFERENDUM TAX IMPACT CALCULATOR
|
|
|
|
|
|
|
|
|
|
| |
|
Enter 2021 Property Fair
Market Value:
|
|
|
|
|
|
|
|
|
|
|
|
|
Year
|
|
2022-23
|
2023-24
|
2024-25
|
|
|
|
|
|
|
|
|
|
|
|
Operational
Override Amount
|
$3,000,000
|
$6,000,000
|
$9,000,000
|
|
|
|
|
|
|
|
|
|
|
|
Fair
Market Value (FMV)
|
|
|
|
3-Year
|
|
|
|
|
|
|
|
|
|
|
FMV
Growth Factor
|
12.0%
|
4.9%
|
4.9%
|
Total
|
|
|
|
|
|
|
|
|
|
|
Equalized
Tax Rate Impact per $1,000
|
-$0.25
|
-$0.18
|
$0.22
|
|
|
|
|
|
|
|
|
|
|
|
Tax
Impact on FMV
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key
Assumptions:
|
|
|
|
|
|
|
●
|
First tax impact will be
noted on tax bills received in December 2022 (due in 2023).
|
|
|
|
●
|
Estimated District FMV
Growth of 12.0% for 2022, 4.9% thereafter (4.9% is the SPASD 10-year
average).
|
|
|
●
|
Example tax impact is
based on the property FMV entered with annual growth noted above and does not
factor any other potential change in the individual property value.
|
|
|
|
|
|
|
|
|
|
|
|
Definitions:
|
|
|
|
|
|
|
|
Fair Market Value (FMV): This value is shown on your property
tax bill. It is your municipality's estimate of your property's market value.
This value is used in conjunction with the school district equalized tax rate
to determine taxes due to SPASD.
|
|
|
|
|
|
|
|
|
|
|
Equalized Tax Rate Impact per $1,000: The equalized tax rate is the rate per $1,000 of FMV that
schools use across all municipalities in the district. This rate is set by
SPASD. The IMPACT is the change in equalized tax rate from the previous year.
|
|
|
|
|
|
|
|
|
|
|
Tax Impact on FMV: This is the dollar amount of the tax impact
compared to the previous year based on the Fair Market Value entered. It is a
calculation of FMV/$1,000 x Equalized Tax Rate Impact per $1,000.
|
|
| |
|
|
|
|
|
|
|