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 County portion of the district saw a $2.7 million increase.
Because the levy is increasing by almost 6 percent over last year, the district will hold a Truth in Taxation Hearing.