Jeremy Olson

Truth in Taxation For FY13

The annual truth in taxation hearing is set for Dec. 17th 2012 at 6:30pm. The meeting will be held in the Underwood Conference Room. Any questions can be directed to Underwood School, 100 Southern Ave. Underwood MN 56586. Phone: 218-826-6101.

 Fund       2011 Pay 2012 2012 Pay 2013
 Increase Percent Change
 General   $130,283.98$131,118.86
$834.88
.65%
 Community Education
$31,952.47   $31,709.81
-$242.66
-.76%
 General Debt Service
$627,638.82
$647,452.81
$19,813.99
3.16%
 OPEB$0
$0
$0
0%
 Total$789,875.27 
$810,281.48
$20,406.21
2.60%

As you can see, the total levy being asked of the local taxpayers has increased this year from last year. The primary reason for this is the debt service increase made for the 2001 addition to the school. This account is self sustaining and rises and falls in order to meet our debt obligations for the long term debt. This debt is scheduled to be paid off in 2024.


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