(Atlantic, Iowa) – The Atlantic School Board,during their electronic meeting Wednesday evening, discussed the FY2026 Tax rate options for next year, and due dates for public hearings on a proposal. Lisa Jones, Director of Finance explained how the tax rate and hearing dates are determined.

Jones said school districts must set the highest rate it can be by March 5^th, and share that with their County Auditor.

Lisa Jones said the dates are set in-place in the event the State Legislature has not established the SSA (School Supplemental Aid). The normal public hearing will be held after April 1^st but before April 15^th.

Last year, the Atlantic School District’s tax rate was $12.517/per $1,000 assessed property valuation (or about $12-dollars and 52 cents). For the FY26 tax year, Jones said the rate she’s predicting is $12.526/$1,000 valuation (or about $12.53/1,000).

Jones said depending on what the legislature sets for SSA, it could mean anywhere from $156 more per student, to as much as $176, but if they decide on less than two-percent, that amount could drop to $118 more per student. She said the district has to make sure it gets enough from property tax if the SSA drops. Most of the district’s funding typically comes from SSA, and that’s much more than from property taxes.

She explained they’re looking at an increase in the property tax asking because the management fund (which pays for Early Retirement and District Insurance) took a hit and went up 20-percent. This year it looks to increase another 15-percent.

She said the district’s bond consultant said there are ways to keep the tax rates nearly stable, by bonding without having an increase in property taxes. For instance, the income surtax could be lowered if debt service is increased and the management fund is lowered. Essentially, it would mean shuffling a few dollars around. No decision was made on the tax levy during Wednesday’s meeting.