School Finance-Related Forecasts
COMMITTEE ON LEGISLATIVE COUNCIL
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10:31 AM -- School Finance-Related Forecasts
Jason Schrock, Legislative Council Staff, talked about the assessed value forecast, the purpose of which is to determine property taxes for Colorado's public schools and the amount of state aid provided to schools. He talked about assessed values and explained that it is based on values in the prior year; therefore, 2010 values actually reflect values in 2009. Mr. Schrock explained that 2012 estimated values will still be lower than 2009 actual values. He discussed Table 15, on page 46 of the forecast, which illustrates the residential and nonresidential assessed values from 2007-2012. Mr. Schrock also talked about the map on page 52 that shows the regional assessed value growth and percent change between 2009 and 2010. He said 2011 will see a decline of about 2.5 percent in assessed value due to the decline in home values that began in 2008. Mr. Schrock talked about commercial properties that have also been affected. He stated that property taxes are expected to remain and 7.96 percent through 2012. There was a discussion about a potential second dip in the recession.
Kate Watkins, Legislative Council Staff, presented the pre-kindergarten enrollment through twelfth grade enrollment forecast. She explained that K-12 enrollment will increase 1.4 percent, or by 11,131 FTE students, in the 2010-11 school year, and that in the following year, 2011-12, there will be an enrollment increase of 1.3 percent, adding an additional 10,060 FTE. She directed the committee to a map on page 41 that showed the regional K-12 school enrollment growth for the school year 2009-10 in Colorado. Senator Tapia said he has not seen the decline in student enrollment in Pueblo that is shown in the forecast. Marc Carey, Legislative Council Staff, explained that the number came out of talks with school representatives in Pueblo regarding their enrollment rates.