Durango School District 9-R board members held an unaccustomed early morning meeting Wednesday to approve the rate at which real property will be taxed to fund district spending.

The mill levy was set at 19.09, the same as the current rate. A mill is one one-thousandth of a dollar.

In order to calculate what the mill levy will raise for the school district from a $300,000 home, multiply the market value of the house by 7.96 percent, a figure set by the county.

The result is $23,880, which is multiplied by the 19.09 mill levy, giving $455.86. A total property tax bill will be greater because other agencies also charge for their services.

Residential property owners will not see an increase, because assessments are done every other year and 2014 is an off year.

The mill levy revenue, based on 2014 valuations, will be collected in 2015.

Assessed property value in the district in 2014 is $1.35 billion, up $73.6 million (5.7 percent) from 2013 but down $136.1 million from 2012. Because of that increase, District 9-R will collect more mill-levy revenue this year than last. State aid also will increase – 4.3 percent – but will be proportionately less than the year before because of the local increase.

The mill levy consists of several component assessments, including tax overrides approved by voters in 2002 and 2010.

The 7:15 a.m. meeting Wednesday was necessary because the district must return its approved mill levy to the county by Monday. The board doesn’t hold a regularly scheduled meeting until Dec. 18.

daler@durangoherald.com