The Primary and Secondary Tax Rate history is displayed below. Keep in mind that there is a two year lag between what is happening in the market and what is seen in assessed valuations. For a complete explanation of the calculation and numbers provided please go to the Property Tax Overview webpage.
|Primary (Limited) Tax Rate Calculation||2011||2010||2009||2008||2007|
|Anticipated State Aid Payment||-||$42,716,776||$45,305,287||$56,319,321||$55,769,251||$56,778,404|
|Overrides (taxed on Secondary)||-||$19,472,806||$19,489,685||$19,442,783||$19,629,298||$19,329,910|
|Total Primary Levy||=||$43,061,604||$37,908,554||$36,401,813||$35,700,285||$41,394,304|
|Total Primary Assessed Valuation||/||$2,100,568,666||$2,476,795,553||$2,552,480,932||$2,346,798,297||$2,121,591,722|
|Primary Tax Rate (Multiplied by 100)||=||2.0500||1.5305||1.4261||1.5212||1.9511|
Notes on the Primary Tax Rate Calculation
- The District's Budget reflects both new allocations and budget balance carry forwards from previous years. The significant downward trend in new allocations is minimized in the District's Budget since the District has been building their budget balance carry forwards. The remaining cash is somewhat reflective of the District's effort to build budget balances. In 2011, the District made the decision to begin to spend down those balances in order to reduce the impact on services.
- The significant decline in State Aid reflects decreased allocations as well as the State shifting burdens from the State Budget to the Local Levy.
- The tax rate increases/decreases are parellel to, and primarily driven by, changes in assessed valuations.
|Secondary (Full Cash) Tax Rate Calculation||2011||2010||2009||2008||2007|
|Bond Cash Balance||-||$15,284,252||$15,060,529||$14,020,157||$14,758,942||$12,966,425|
|Total Secondary Levy||=||$34,977,352||$43,506,334||$43,126,314||$41,127,725||$40,906,959|
|Total Secondary Assessed Valuation||/||$2,107,355,670||$2,597,799,593||$2,912,879,210||$2,946,298,564||$2,654,918,091|
|Primary Tax Rate (Multiplied by 100)||=||1.6598||1.6748||1.4804||1.3960||1.5409|
Notes on the Secondary Tax Rate Calculation
- Overrides have only changed slightly from year to year and only due to changes in the District's Average Daily Membership.
- Bond payments reflect the District's debt management philosophy of satisfying District needs while minimizing the impact on tax payers. From year to year they will vary slightly, but a significant drop was experienced in 2011. For a complete explanation of why this occurred, please review the Bond Issue webpage.
- The tax rate increases/decreases are parellel to, and primarily driven by, changes in assessed valuations. The exception is 2011 when the Bond Issue caused a decrease in the tax rate.
For a complete explanation on how tax rates are determined and the current issues that can impact the tax rate please go to the Property Tax Overview webpage and navigate through the pages in the recommended order. If you have read through all of the webpages and still have concerns, then you can contact the District's Chief Financial Officer by email at firstname.lastname@example.org.