The Examiner U-46 News Feed
Latest tax levy amount presented by Dist. U-46
By Seth Hancock
As schools remain closed and enrollment continues to drop, School District U-46 is again asking taxpayers to pay up by the maximum amount under the law with its 2020 property tax levy.
U-46 states homeowners can expect to pay 2.3 percent more in the district-portion of their property tax bill.
The levy was presented to the Board of Education at its meeting on Monday, Oct. 19 which was held electronically due to COVID-19 regulations. The board is expected to vote on the proposed levy and a determination of tax levy resolution on Nov. 2, a tax levy resolution and certificate of tax levy is planned to be presented on Nov. 16 with a vote on Dec. 14 and an abatement is planned to be presented in February.
The total property tax levy, corporate and special purpose levy ($295 million) combined with debt service levy ($42.3 million), is proposed to be $337.3 million, a 3 percent increase from 2019’s extension of $327.5 million.
Dale Burnidge, director of financial operations, said the determination “includes the amount of new construction and the change in the Equalized Assessed Valuations (EAV) for the properties in the district. The levy amount is then increased by the Consumer Price Index, which is 2.3 percent.”
The corporate and special purpose levy is proposed to increase from $285.1 million to $295 million, a 3.5 percent increase, which is a defensive levy. U-46 expects it to increase 2.7 percent to $292.8 million as the district traditionally adds a defensive levy, as EAV numbers are not currently available, in order to take as much in tax dollars from the people as is legally possible.
The district estimates a 3 percent increase in EAV and a $20 million increase in new property.
From 2015 to 2019, the corporate and special purpose levy extension has increased 8.8 percent ($262 million to $285.1 million).
There was no board discussion on the levy.