Extending and possibly increasing two parcel taxes that support the Belmont-Redwood Shores Elementary School District could be on a future ballot but officials may first need time to better understand financial changes coming from the state.

Currently, Belmont-Redwood Shores has two parcel taxes. Measure G, a $96 a year parcel tax for 10 years, passed in 2004. It generates about $1.2 million annually. In 2008, voters passed Measure U, a seven-year $78 annual tax that brings in about $950,000 per year. Both will end by the 2015-16 school year. On Thursday, the board will hold a public hearing to discuss extending and possibly increasing the parcel tax amounts.

When the conversations started last year, the district's future budget looked like it needed a boost. Last month, Gov. Jerry Brown suggested changes in school funding. The impacts of the new system make budgeting a challenge for most districts. So, while the board will continue to talk about a parcel tax, it will most likely gain a better understanding of the state changes prior to asking voters to consider extending the tax measures, said board President Robert Tashjian.

Before making any decisions, there will be community polling.

The district began talking about the possibility of a new measure in 2011. A poll completed late last year showed a moderate base of voter support for a parcel tax measure. However, without support strong enough to pass such a measure, the polling companies suggested the district initiate a public outreach effort before considering placing something on the ballot