Review Agenda Item
Meeting Date: 11/9/2022 - 7:00 PM
Category: Oral Reports
Type: Info
Subject: 2022 Proposed Property Tax Levy
Vision 2026:
Operational Excellence Strategies 2
Maintain strong fiscal health of the organization.
Background The school code empowers the Board of Education to levy taxes to support the public school system. If the levy request exceeds 105% of the previous year's aggregate extension, a public notice and hearing are needed before the official levy is adopted. The Board of Education is limited to an increase no greater than the Consumer Price Index (CPI) from the previous year under the Property Tax Extension Limitation Law (PTELL or "Tax Cap").
File Attachment:
CUSD 200 - 2022 Tax Levy Presentation - November 2022.pdf
CUSD 200 Unaudited Fund Balances @ 6-30-2022.pdf
Summary: Annually, the Board of Education reviews a levy proposal prepared by the Administration. The 2022 proposed tax levy was previously discussed with the Board Finance Committee. The proposed tax levy, which provides for more than a 5% increase, will be presented. Based on the proposed tax levy being greater than 5% over the prior extended levy, a Truth in Taxation Public Hearing will be held on December 14, 2022.
Board Policy
Recommendation: No action is to be taken.
Recommended By:
Signed By:
Brian O'Keeffe - Asst Superintendent Business Services
Signed By:
Jeff Schuler - Superintendent