Concord School Board approves 2021 budget

Concord School Board approves 2021 budget

During the regularly scheduled board meeting on Monday, October 19, the Concord School Board adopted a $64.2 million budget for the 2021 calendar year. This budget also includes an adopted tax rate of $2.1088, which will later be reduced.

TAX RATE INFORMATION

The property tax rate for the 2020 budget is $1.7784. The tax rate adopted by the board for 2021 is $2.1088. It is important to understand that the adopted rate is not the final rate. The board-adopted rate will be reduced at the time the Department of Local Government Finance (the state agency that works through the budget approvals) finalizes the 2021 budget for Concord Community Schools.

When the final tax rate is set, it will be at or below the current rate of $1.7784. This means that residents who live within the Concord Community Schools district will not see an increase in their tax rate.

For comparison purposes, the following chart shows the rate that was adopted each year, compared to the final rate. Typically schools and other taxing units advertise and adopt rates that are higher than the final rates.

YearBoard Adopted RateFinal Rate
2018$2.5599$1.7985
2019$2.2734$1.7784
2020$1.8403 $1.7784
2021$2.1088TBD – not to exceed $1.7784

The final 2021 tax rate will not be higher than the 2020 tax rate of $1.7784.

The Concord School Board is committed to being good stewards of taxpayer money and will not raise the tax rate.

2021 BUDGET OVERVIEW

The 2021 budget includes the following breakdown.

Click here for the notice to taxpayers for the 2021 budget.

FundTotal
Referendum fund$6,000,000
Rainy day fund$500,000
Debt service fund$9,801,473
School pension debt$355,386
Education fund$34,300,000
Operations fund$13,200,000
TOTAL:$64,156,859