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Declining EAV forces Dist. 201's tax levy $1 million lower

Tax rate rises 6 cents to $3.00 per $100 of EAV

Published: Wednesday, Jan. 16, 2013 8:16 a.m. CST

MINOOKA — Minooka Grade School District 201 board members have approved the district’s levy for fiscal year 2013 at $21 million, which is $1 million less than for last year.

The reason for the decrease in the dollar amount is the decline in the equalized assessed valuation of the district, Superintendent Gegenheimer said.

“We are estimating that the total EAV will be dropping by roughly $30 million,” Gegenheimer said. “... our EAV dropped by $80 million last year. This is the source of our deficit problem.”

The exact levy rate will not be known until the EAV is known, but the district is estimating the total tax rate will move from $2.94 to $3.00 per $100 of assessed valuation.

To bring in the same revenue as last year, the levy rate would need to be raised by $0.18 or more, but it is only being raised by $0.06, Gegenheimer said.

The levy will bring in $13 million for the education fund, $2 million for the general operating fund, $1 million for transportation, $170,000 for special education, $400,000 each for fire and life safety, working cash and leasing funds, and $650,000 each for IMRF and Social Security.

“In short, our levy reflects that the total Minooka 201 portion of the property tax bill will be dropping again this year,” Gegenheimer said.

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