Tax Levy and Tax Abatement Information
Following a public hearing at its December 13, 2012 meeting, the Board of Education approved the proposed 2012 tax levy as presented. The 2012 tax levy is $203,844,800, excluding the Debt Service Fund, and it reflects an increase of $6.2 million or 3.1% over the 2011 tax levy of $197,675,036.
In an effort to preserve the maximum operating levy as limited by the Property Tax Extension Limitation Act, a debt service abatement lessens the overall tax increase, while maximizing the aggregate extension per the Tax Cap. As part of the 2012 levy, the Board also adopted a resolution to authorize and direct the County Clerk to abate a portion of the taxes levied for the year 2011 ($3.9 million) to pay principal and interest on 2006 school bonds. Including the 2012 levy abatement, the Board has reduced the Debt Service levy by $24.3 million since 2007.
- Additional Tax Levy Information (from December 13, 2012 Board of Education meeting)
- Additional Tax Levy Information (from November 8, 2012 Board of Education meeting)
- 2012 Tax Levy Information
- 2012 Tax Levy Presentation