Property taxpayers within District 205’s boundaries could get some relief on their next tax bill.
The Board of Education on Monday night was given a presentation of the proposed 2021 tax levy by Assistant Superintendent for Finance and Operation Jennifer Hamm.
She told the board that thanks to federal ESSR funds, the district had enough funding that the district could lower property taxes.
“And so, we’re asking for $213,501 fewer dollars from property taxes this year compared to last year. And just to summarize, our proposed tax rate for this year is $4.77. This represents an $0.11 decrease from 2020.”
The tax rate of $4.77 is based on every $1,000 assessed property value.
Hamm told the board the district could maintain that tax rate going forward but it would depend on things out of the district’s hands.
“But given the level of fund balances that we currently have, I feel comfortable that we should be able to sustain this or only incrementally increase it over the next couple of years. But, that’s with all of our state revenues holding and our federal revenues holding, excluding the ESSR funds. Obviously, those are one-time funds.”
Hamm told the board that the Equalized Assessed Value of the district residing in Knox County was expected to increase by 1.7 percent while the land in Warren County was expected to increase by around 6 percent.
The school board will consider approving the tax levy next month.
