PEORIA, Ill. - A local real estate organization doesn't want to see vacant lots at former school sites in South Peoria. Demolition is underway for the.
PEORIA, Ill. - A local real estate organization doesn't want to see vacant lots at former school sites in South Peoria. Demolition is underway for the.
The District 205 Board of Education approved the 2022 tax levy of $23,856,768 at their meeting on Monday. Assistant Superintendent for Finance Jennifer Hamm told the board that the tax levy was increased over last year, matching the increases seen in the projected Equalized Assessed Value of the district, an increase she described as "significant." The projected EAV for the portion of the district in Knox County increased by 5.6 percent while the EAV of the portion of Warren County improved by 13.46 percent. While the tax levy is increasing over the last year, the tax rate will remain flat according to Hamm. "When the aggregate levy increases more than five percent, it can be for a couple of different reasons," Hamm explained to the board on Monday. "One, it can be because the taxing body is increasing the tax rate. Or, it could be because the EAV, which is the Equalized Assessed Valuation of the properties, within the school district has increased – and that
Next month, the District 205 School Board will consider a tax levy of over $23.8 million dollars. That is an increase of $1.3 million from the year before but is based on a 5.9 percent increase in the Equalized Assessed Value of the district, not an increase in the tax rate. Assistant Superintendant of Finance Jennifer Hamm told the School Board on Monday that the tax rate will actually remain flat from the year before. "Last year, our tax rate was actually a 3 percent decrease from the tax year before. And we're just a few hundredths or thousands of a tenth less right now in our tax rate," Hamm told the board. "So, for all intents and purposes, we're seeing a zero percent increase in the overall rate for tax year '22 is what we're proposing." The tax rate is projected to be 4.73 percent or $4.73 cents per every hundred dollars of assessed value. The Knox County portion of the school district saw an increase of over $25 million while the Warren C
The District 205 Board of Education approved the proposed fiscal year 2023 budget at Monday night's meeting which saw funds staying relatively equal to where they were by the end of the last fiscal year. The biggest fund drop is expected to come in the education fund of over three million dollars. But, with that drop representing just ten percent of the total fund amount at the end of FY22, it's not breaking the bank for the district. Assistant Superintendent of Finance Jennifer Hamm told the board the biggest expected change in the budget is in transportation. "I will say that transportation, most likely, will be amended and we will not end up with a fund balance of four-million dollars," Hamm told the board Monday. "Just because all of our transportation costs are coming in even higher than projected. We do a lot of contracting of coach services. We're having difficulty finding those. So, those costs have come in quite a bit more." She added that th