Glenwood’s Top 10 Ways We’re Reducing Taxes and Addressing Enrollment Loss from the 2023-2024 school year
Proposed Property Tax Rate Decrease
The property tax rate for the 2025-2026 school year is projected to decrease from $14.50 per $1,000 of taxable valuation (2024-2025 rate). The exact decrease depends on the finalization of State Supplemental Aid (SSA) at the state level.
We expect the tax rate to be lower than $13.50 per $1,000 of taxable valuation, which would result in savings of at least $1.00 per $1,000 of taxable valuation for taxpayers.Tax Rate Comparison with Other Districts
Glenwood is targeting a tax rate that will fall between the 50th and 60th percentile of school districts statewide.Early Repayment of High School Bond
We are repaying the outstanding high school general obligation bond four years early, which will reduce the related debt service levy to zero, further lowering the property tax rate.Comprehensive Budget Review
We are conducting an in-depth review of all general fund expenses and have identified $750,000 in reductions, largely due to the loss of 94 students for the 2024-2025 school year. These reductions will be made prior to the start of the upcoming fiscal year on July 1, 2025.Special Education Deficit Reduction
We’re working on improving revenue through Medicaid billing and ensuring that services for students in their Individualized Education Plans (IEPs) are properly coded. We’re also focused on serving as many students as possible within the Glenwood district.Launching a New Virtual School
A new virtual school will be available for students starting in the 2025-2026 school year. This will help retain resident students and reduce the number of students enrolling in outside virtual programs.Facility Projects Funded Without Taxpayer Dollars
Current facility projects are being funded through SAVE fund reserves, the Iowa Workforce Development 2024 Childcare Business Incentive Grant ($1,443,235), and Kid’s Place Champions Committee fundraising ($1 million). We are committed to staying within this budget.Maintaining Financial Responsibility
We are working diligently to reduce tax rates while maintaining the resources needed for successful educational outcomes for all students. These efforts balance fiscal responsibility with our educational mission to develop in all students the knowledge and competencies required of responsible citizens in a global society.Community Involvement
We welcome your questions and feedback. Please reach out to Superintendent Kooiker with any of your budget reduction questions.Commitment to Glenwood’s Future
We are confident that these actions will achieve long-term financial stability while maintaining a strong educational environment for our students.