The Bond County Unit 2 board of education approved a tax levy Monday night for real estate taxes to be paid in 2020.
A truth in taxation hearing was held at Monday’s meeting with no one from the public commenting. The overall increase in the levy is around 6.3 percent.
Board President Dr. Edmar Schreiber said the district is requesting $7,737,000 in corporate and special purpose property taxes, which is an increase of 6.99% over what it received last year. In addition, the district expects to receive $1,500,713.96 for debt service and public building commission lease taxes, an increase of 3.05% over last year. The total estimated property taxes to be levied in 2019, fiscal year 2020-21, are $9,237,713.96, an increase of 6.33% over last year.
Click below to hear his comments in full:
Schreiber explained the levy for the district is based on a review of the past fiscal practices and revenue trends of the district, the estimated EAV and projected needs to effectively and efficiently operate schools.
He said it is not uncommon for school districts to requests more than they believe they will receive because they must set their levy request before they know what all of their needs will be for the coming year, especially in regards to staffing.
In the spring, the county clerk will calculate the actual amount the district is eligible to receive. If the district has requested less than it is eligible to receive, the clerk will not adjust the levy. If the district has requested more than it is eligible to receive, the clerk will reduce the amount to correspond to the actual entitlement, based on the legal tax rates and the actual calculated EAV.
Click below to hear more:
The board indicated it is committed to providing a quality educational program for all students in the district while remaining sensitive to the impact on the local Unit 2 taxpayer.