The Kaskaskia College Board of Trustees held a truth-in-taxation hearing this week, then approved an increased tax levy for taxes to be paid in 2024.
The levy is 17.682 percent more than the taxes extended this past year.
The total levy request is $13,350,470. That amount represents 26 percent of an estimated $52 million budget for fiscal year 2025.
College officials reported the levy request is driven by an anticipated increase in the estimated assessed valuation. It was noted the actual tax rate is decreasing.
Judy Hemker, KC Vice President of Administrative Services, said “The vision of 33 percent funding each from state, local and student tuition sources is not being realized in Illinois.” From the fiscal years 2017 through 2022, the community college system averages were 16 percent state, 46 percent local and 38 percent student funding.
Hemker reported the new levy request reflects the current funding formula reliance on property tax revenue.
The KC board also approved the abatement of the tax levy for the fitness center bonds, issued in 2008 and refinanced 2018. Trustees must annually abate the potential bond levy per abatement requirements.