Property owners in the Keystone Oaks School District could see a 3.5% increase to their property taxes for next school year.
The district’s proposed budget totals about $55.2 million. It increases the millage rate to 22.7122 mills, which is a .5680-mill increase.
Keystone Oaks serves students in Green Tree, Dormont and Castle Shannon.
A homeowner with the district’s median assessed property value of $120,000 would pay $2,725 annually in school taxes, which a $92 increase from this school year.
The value of one mill is about $1.55 million, so the proposed increase would bring in an additional $880,400 to the district.
“The proposed budget maintains all programs and staffing levels for the 2026-27 school year,” said Sarah Welch, district spokeswoman. “It also includes a $2 million bond payment for the elementary schools renovation project.”
The district plans general maintenance upgrades, that include HVAC, electrical and window and door replacements, at its three elementary schools — Fred L. Aiken, Dormont and Myrtle Avenue.
Costs are estimated at around $35 million.
Many Allegheny County school districts have cited a decreasing common level ratio as a reason for budgetary struggles. The common level ratio is used by the county to determine the fair market value of real estate properties.
This year, the common level ratio is 50.1%, meaning assessed property values in the county are set at about half of their current fair market value.
Since 2021, Keystone Oaks’ taxable real estate has decreased by about $14 million, Welch said. This year, the district’s taxable assessed value is just less than $1.387 billion.
Final budget adoption is scheduled at a June 16 school board meeting.