No members of the public attended the special school board meeting held to discuss tax mills Sept. 29. If they were hoping to avoid any bad news, they’ll be pleasantly surprised to hear that taxes for the school will be going down, not up. “The board is proposing to lower mills from 97.04 to 96. Even with the mill drop, the school will actually get an increase in revenue, because the property valuation is so high,” said superintendent Dave Schoch. One mill is equal to the school’s property valuation ($16,387,700) divided by Velva’s estimated population (1,000), so this year, one mill is worth $16,387.70. There are four separate funds that the school puts taxes into: a general fund, a miscellaneous fund, a reserve fund, and a separate fund to pay for the addition built on the school. The school board proposed to put the minimum legal amount of 60 mills into the general fund. The other 36 mills will be divided among the other funds, and a good portion will go into a reserve savings. “This fund started in 2013/2014, and had to be built for at least three years before you could spend any of it,” said Schoch. “After the third year, you could start to spend it, but you could only spend it down by 50 percent.” The biggest tax cuts are coming out of the fund for the addition. “That fund, at about two years ago if I remember right, was at 24 mills,” said Schoch. “Property valuation has increased so much from the time that building was built until now that we’ve been able to cut the mills in half and still make our payment. We do that simply because we can’t pay it off early. If we could, we would’ve kept it at 24 mills, pay it off in 10 years, and away we go.” He then went on to explain how a property owner’s taxes would be affected by this adjusdtment. ““We’re increasing our revenue by $54,000. If you’re a homeowner, for every $100,000 of home value you have, your taxes will decrease by $4.68,” he said. “If you’re a land owner, for every $100,000 worth of land you have, your taxes will decrease by $5.20.”
Posted 10/13/16 (Thu) read more »
According to the North Dakota Wheat Commission, spring wheat harvest continues at an above average pace across the region.
Posted 8/11/15 (Tue) read more »
A little over one year ago, local photographer Lacey Holman opened her studio, LJC Photography, in Velva. The enterprise has been a successful one, but it seems Holman felt the tug to do something more.
Posted 10/07/14 (Tue) read more »
Last year, a public hearing at the Velva Public School invited district taxpayers to come and voice their concerns over a 22.54 percent tax “increase.”
Posted 10/01/14 (Wed) read more »
The Velva City Commission concluded its business in just over an hour last Monday night, with all commissioners present, including one via computer.
Posted 9/23/14 (Tue) read more »
Velva has been without a preschool for a number of years, but as of this week, that has changed.
Posted 9/16/14 (Tue) read more »
It’s that time of the year again! The third annual Kickstands for Cancer, benefiting local cancer drives, is slated to start and end at the Dakota Roughrider Saddle Club rodeo grounds in Velva on Saturday, Sept. 13.
Posted 9/02/14 (Tue) read more »
The Velva City Commission opened Monday’s meeting activity by turning over $40,000 to the Velva Park Board. The funds, designated for the park board through the city sales tax and a mill levy, were requested by Park Board President Mike Heisler to pay bills incurred this summer.
Posted 8/26/14 (Tue) read more »