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School Board Presentation Nonan

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Presented to Memphis City and Shelby County\'s School Boards and the Memphis City Council.

Presented to Memphis City and Shelby County\'s School Boards and the Memphis City Council.


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Transcript

  • 1. Summary of Findings
    March 1, 2011
    Steve Redding
    Charlie Santo
    Regional Economic Development
    Center
    University of Memphis
  • 2.
  • 3. Study completed in May 2008
    Both MCS and SCS commissioned REDC to examine fiscal impacts of SCS converting to Special School District
    Did not consider impacts of consolidating or merging two districts
  • 4. Multiple Scenarios Considered
    Two District Boundary Alternatives
    Two Local Property Tax Alternatives
  • 5. Boundary Alternative 1: Constrained MCS Boundaries
  • 6. Boundary Alternative 2: Expanded MCS Boundaries
  • 7. Local Property Tax Alternatives
    Property Tax Alternative 1 [Countywide Levy]
    Similar to the status quo
    Shelby County government would continue to serve as the primary local funding source for each school district.
    Shelby County government would continue to levy a property tax for education, and revenue from that tax would continue to be allocated to each district based on its average daily attendance (e.g., if Memphis City Schools has 70 percent of the county’s students, it would receive 70 percent of the revenue generated by the county property tax for education).
    The new Shelby County special school district would be able to levy an additional property tax within its boundaries as a supplemental revenue source.
  • 8. Local Property Tax Alternatives
    Property Tax Alternative 2 [District Levy]
    Shelby County government would discontinue using property taxes to fund the special school district and Memphis City Schools
    With the creation of a special school district each district would levy its own property taxes as a primary local funding source.
  • 9. Enrollment: Baseline (2008-2009)Boundary Alternative 1 [Constrained MCS]
  • 10. Property Tax Revenue: Baseline (2008-2009)Boundary Alternative 1, Property Tax Alternative 1 [Constrained MCS], [Countywide Levy]
  • 11. Shelby County Special
    Total
    Memphis City Schools
    School District
    Enrollment
    159,012
    116,113
    73%
    42,899
    27%
    Assessed Value (real property)
    15,592,328,065
    $
    9,843,672,470
    $
    63%
    5,748,655,595
    $
    37%
    These exising property tax revenue sources would go away:
    Main funding from countywide property tax (@2.02)
    314,965,027
    $
    229,263,043
    $
    85,701,984
    $
    Supplemental MCS funding from city property tax (@0.86)
    84,655,583
    $
    NA
    Total Property Tax Funding
    313,918,626
    $
    85,701,984
    $
    Existing property tax revenue sources would be replaced w/ new district taxes
    Tax rate required to replace former funding from countywide property tax
    2.3290
    $
    1.4908
    $
    Tax rate required to replace former supplemental MCS funding from city property tax
    0.8600
    $
    NA
    Total new tax rate required to replace former property tax revenue
    3.1890
    $
    1.4908
    $
    District Property Tax Base (Assessed Value)/Student
    84,777
    $
    134,004
    $
    Property Tax Revenue: Baseline (2008-2009)Boundary Alternative 1, Property Tax Alternative 2[Constrained MCS], [District Levy]
  • 12. Property Tax Revenue: Baseline (2008-2009)Boundary Alternative 1 [Constrained MCS], Property Tax Alternative 2 [District Levy]
    Property Tax Base
    Enrollment
  • 13. Property Tax Revenue: Baseline (2008-2009)Boundary Alternative 1, Property Tax Alternative 2[Constrained MCS], [District Levy]
  • 14. Tax Rate Implications:
    Baseline (2008-2009)Boundary Alternative 1, Property Tax Alternative 2
    [Constrained MCS], [District Levy]
  • 15. Property Tax Revenue: Baseline (2008-2009)Boundary Alternative 2, Property Tax Alternative 1[Expanded MCS], [Countywide Levy]
    • Countywide tax revenue per student would be remain equal for Memphis City Schools and the Shelby County special school district
  • 16. Property Tax Revenue: Baseline (2008-2009)Boundary Alternative 2 [Expanded MCS], Property Tax Alternative 2 [District Levy]
    Property Tax Base
    Enrollment
  • 17. Tax Rate Implications:
    Baseline (2008-2009)Boundary Alternative 2, Property Tax Alternative 2
    [Expanded MCS], [District Levy]
  • 18. Property Tax Revenue: 2020Boundary Alternative 1 [Constrained MCS], Property Tax Alternative 2 [District Levy]
    Property Tax Base
    Enrollment
  • 19. Property Tax Revenue: 2020Boundary Alternative 2 [Expanded MCS], Property Tax Alternative 2 [District Levy]
    Property Tax Base
    Enrollment
  • 20. Property Tax Alternative 1 [Countywide Levy]:
    The creation of a special school district would not necessarily create any new imbalance in tax revenue per student between the two districts. Since property taxes collected countywide would continue to be distributed proportionately to the two districts, the countywide tax revenue per student would be remain equal for Memphis City Schools and the Shelby County special school district.
    Property Tax Alternative 2 [District Levy]:
    Would create an imbalance in the two districts due to the ratio of available tax base to school enrollment that would exist in each. The district property tax base per student would be lower for Memphis City Schools than for the special school district. In the long term, this imbalance could subside if MCS experiences the declining enrollment that has been projected.