2017 Proposed Levy Dr. Glenn Schlichting Superintendent Steven Bahn Assistant Superintendent Yasmine Dada Interim Business Manager October 2017

2017 Levy Terms CPI= US Department of Labor, Consumer Price Index. 12 month percent change for the month of December 2016 2.10% 2015 .70% 2014 .80% 2013 1.50% 2012 1.70%

2017 Levy Terms EAV Equalized Assessed Value – Value of Property is determined by the County Assessor. Extension Total of Taxes billed to property owners Limiting Rate This is the maximum tax rate for all non debt funds in a tax capped district . The increase to existing property is limited to the CPI or 5% , which ever is less of the prior year’s extension. New property is taxed at the full taxing rate of the taxing district Limiting Formula Prior year extension x (1 +CPI) = Limiting Rate EAV- New Property

2017 Levy Assumptions CPI 2.1% New Property $ 7,000,000 Existing Property Increase limited to CPI New property yields additional tax dollars above the existing property and is taxed at the full- assessed valuation when it first comes on the tax roles

2017 Levy The district does not levy a tax based on a rate or an increase in rate. District 105 levies a tax based on a dollar amount, and that dollar amount is limited to an increase each year in the Consumer Price Index or 5% whichever is less. To avoid the loss of current and future tax dollars for new property, the district projects high enough to capture all new property. Also, it prevents the district from losing future taxes due to Tax Cap Law. By estimating high , the district knows the County Clerk will reduce the levy by applying the Tax Cap Formula to the levy request, and will recalculate the levy extension.

2017 Tax Levy For the 2016 levy, existing property is limited to the CPI of 2.1%. The increase of 4.31 % in the 2017 Levy Request also accounts for new property added to the tax rolls.

CPI EAV & TAX RATE The Total EAV in the District determines the tax rate. If the EAV decreases, the tax rate will increase to ensure the school district receives the dollars it is entitled to. If the EAV increases, the tax rate will decrease to ensure the school district receives the dollars it is entitled to.

Factors Impacting the Tax Bill The percent change in your property tax bill is not a 1:1 relationship with the percent change in your property value. Other factors also impact your tax bill: Did your homeowners exemption amount change from the prior year ? Are you receiving all the money saving exemptions to which you are entitled ? What are the changes in your EAV as compared to other taxable properties in the community?

Proposed Levy Any Questions ?