2018 Levy Presentation November 14, 2018 Levy Terms Tax Caps - - - PowerPoint PPT Presentation

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2018 Levy Presentation November 14, 2018 Levy Terms Tax Caps - - - PowerPoint PPT Presentation

Oct 25, 2023 351 likes •531 views

2018 Levy Presentation November 14, 2018 Levy Terms Tax Caps - PTELL Created to limit the increase in tax payers tax bills by limiting how much a district can receive (5% or CPI whichever is less) Consumer Price Index (CPI) Measures

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SLIDE 1

2018 Levy Presentation

November 14, 2018

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SLIDE 2

Levy Terms

  • Tax Caps - PTELL

Created to limit the increase in tax payers’ tax bills by limiting how much a district can receive (5% or CPI whichever is less)

  • Consumer Price Index (CPI)

Measures changes in the price level of a market basket of consumer goods CPI – U (all urban consumers)

  • Equalized Assessed Valuation (EAV)

The value placed on property by the County Assessor for tax purposes multiplied by the State Equalization Factor

  • Tax Rate

The tax due stated in terms of an amount per $100 of EAV

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SLIDE 3

Consumer Price Index

  • The CPI is a figure which is computed on a

monthly basis by the Bureau of Labor Statistics (BLS) that measures changes in prices over time for goods and services.

  • Correlation to the costs of running a school

district not always similar.

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SLIDE 4

10 Year CPI History for Levy Year

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SLIDE 5

EAV History

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SLIDE 6

2017 Township EAV

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SLIDE 7

2017 EAV Description

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SLIDE 8

New Construction

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SLIDE 9

CPI/Levy Aggregate Extension History

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SLIDE 10

EAV, CPI & Tax Rate, CPI and Tax Rate

The District is limited to the value of CPI for its increase of taxes, regardless of the valuation of property in the District.

Existing EAV

CPI

2005–2009, 2015-?

Tax Rate

CPI

Existing EAV Tax Rate Existing EAV

2010 – 2014

CPI

Tax Rate

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SLIDE 11

Five Year History of Tax Rates

Tax Rates 2013 2014 2015 2016 2017 Education 3.7834 $ 3.8900 $ 3.8100 $ 3.6200 $ 3.5350 $ Special Education 0.0600 $ 0.0714 $ 0.0900 $ 0.0900 $ 0.0870 $ Operations & Maintenance 0.4300 $ 0.4300 $ 0.4300 $ 0.4300 $ 0.4200 $ Debt Service 0.6488 $ 0.6860 $ 0.6843 $ 0.6765 $ 0.6694 $ Transportation 0.1500 $ 0.1744 $ 0.1770 $ 0.1770 $ 0.1692 $ IMRF 0.0376 $ 0.0300 $ 0.0360 $ 0.0306 $ 0.0300 $ Social Security 0.0938 $ 0.1097 $ 0.0835 $ 0.0835 $ 0.0810 $ Total 5.2036 $ 5.3915 $ 5.3108 $ 5.1076 $ 4.9916 $

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SLIDE 12

2017 Levy Breakdown

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SLIDE 13

Debt Service-Levy Year After Phase 4

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SLIDE 14

How Much Should We Receive?

  • 2017 Aggregate Levy $134,021,844.88
  • CPI of 2.1%
  • $ 134,021,844.88 x 1.021=$136,836,303.62
  • New Construction: $1 million  ≈ +/- $43,000
  • Amazon Building
  • 2018 Debt Service $20,733,020
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SLIDE 15

2018 Levy Proposal

RATE 2017 2018 FUND LIMIT 2017 Extension RATE 2018 LEVY LEVY INC.

EDUCATION NONE 109,612,517.15 $ 3.5350 113,200,000.00 $

  • SP. ED.

0.8000 2,697,677.23 $ 0.0870 2,875,000.00 $ TORT NONE

  • $

0.0000

  • $

O & M 0.7500 13,023,269.36 $ 0.4200 13,600,000.00 $ TRANS. NONE 5,246,517.09 $ 0.1692 5,600,000.00 $ IMRF NONE 930,233.53 $ 0.0300 1,000,000.00 $ SS NONE 2,511,630.52 $ 0.0810 2,700,000.00 $ LIFE SAFETY NONE

  • $

0.0000

  • $

WORKING CASH NONE

  • $

0.0000

  • $

TOTAL 134,021,844.88 $ 4.3222 138,975,000.00 $ 3.70% DEBT SERVICE 20,756,610.74 $ 0.6694 20,733,020.00 $

  • 0.11%

GRAND TOTAL 154,778,455.62 $ 4.9916 159,708,020.00 $ 3.18%

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SLIDE 16

Considerations

  • Levy Collection Included in 2018-19 Budget
  • Capture New Construction-Amazon
  • Funding of Projects Identified in Capital Plan
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SLIDE 17

Recommendation

Levy request which provides access to the PTELL allowed CPI of 2.1% plus new growth.