|
Board of Education approves tentative levy  Share
On Tuesday, November 10, Manhattan Board of Education tentatively approved the school district's 2009 tax levy for fiscal year 2010-11. The levy is a document authorized by the board of education. It is issued to the county clerk, certifying the amount of money necessary Ð fund-by-fund Ð for the next fiscal year, to be applied against the predicted equalized assessed valuation of the school district's taxable property. In this case, the levy applies to fiscal year 2010, which begins July 1, 2010, and concludes June 30, 2011. The proposed corporate and special purpose property taxes (aggregate extension) to be levied in 2009 are $12,560,000. The estimated property taxes to be levied for debt service are $2,187,369. The estimated total property taxes to be levied in 2009 are $14,747,369. Since the aggregate extension request is in excess of 105 percent of the previous year's extension, a Truth in Taxation Notice, along with a hearing, is required by law before the levy is finally approved. A notice providing further required information must be placed in the community prior to the hearing. The public hearing on the levy will take place on Tuesday, December 8, at 7 p.m., in Wilson Creek Elementary School, 25440 South Gougar Road.
Five years after promising voters that if they approved a $21 million referendum to build and equip Wilson Creek Elementary School, the district bond and interest tax rate would not increase, the Manhattan School District is estimating it will continue to meet its promise for the next fiscal year. While the bond and interest rate is in check, the operating tax rate for the school district is projected to increase. This is a result of the continued phase-in of the 31 cent increase the voters approved in the spring of 2005. In the referendum attempt of 2005, with a tax rate of $3.04, the Board of Education said it needed a 31 cent increase in that tax rate to help eliminate a deficit and also to meet current and future needs of a growing district. The board further said that with the approval of the increase, it would phase-in the tax rate over a five-year period. To date, the board continues to do that. The filing of this levy marks the final year of that phase-in period. The overall tax rate for the next fiscal year is projected to be $3.35 per $100 equalized assessed valuation, up 1 cent from the current fiscal year. While the final figures won't be settled until spring, when the final assessment of the property in the district will be known, the board by law (as noted above) must approve the levy in December. While the 2009 Levy calls for a total request of $14,747,369, the district actually expects to receive far less. If everything goes as expected, the school district anticipates receiving about a 4.24% increase in revenue for fiscal year 2010. The discrepancy in the numbers is due to a limiting tax rate calculation formula imposed by both the county and state. Come spring, when the actual assessed figure for the district is known, any necessary adjustments to the district's final request will be made. Adjustments made will not be more, but are expected to be less than what is being levied now. These are difficult times and the state is not shouldering its responsibilities for the education of Illinois' youth, school officials across the state have said. Manhattan is not immune to these difficulties. State aid to the Manhattan School District continues to drop at an alarming rate and local taxpayers continue to shoulder a greater percentage of the cost to educate their children through their property taxes, school officials say. It is anticipated that next year 78 percent of the funds the school district will receive to educate its students will come from property taxes. The schools have urged local residents to lobby legislators and the governor to address the ongoing problem with school funding. That being said, if no corrections are made to increase state funding, the district will not raise the tax rate above $3.35, no matter what the final total assessed valuation comes in at. Manhattan School District #114 will continue to honor its commitment to the voters. Russell Publications prints several community newspapers each week, serving Will, Kankakee and Cook counties.
|
This Week's Front Page »
Related Stories »
|
