1. Fairview South School District 72
2012 Tax Levy
11/21/12

2. Tax Levy Calendar
June 26 – Final Tax Rate Report Available from County Clerk
June 27 – Nov. 1 – Preparation of 2011 Tax Levy
Nov. 14 – Finance Committee Meeting
Nov. 20 – Levy Presentation to Board
Dec. 18 – Public Hearing to adopt levy
Dec. 24 – Levy delivered to county clerk (on or before this date)

3. Tax Levy Process
If levy increases by more than 5% of previous year’s extension, a public hearing must be held (Truth in Taxation)
Levy for monetary needs of district
Maximum rate: Ed, O&M, Trans, SpEd, Working Cash
3% (CPI) levy increase limit on existing property (PTELL)
Bond and Interest – based on payment schedules, not under tax cap

4. EAV/New Property Trends

5. EAV/New Property Estimates
EAV has dropped 24% in 3 years
Neighboring district are estimating anywhere from a 3-12% drop
Multiplier has an effect
Next year is our triennial reassessment
Estimating 6% drop
New property has never been above .77% of EAV for D.72 since 2006
Average new property over last 5 years ($1.6 million)
Choosing highest possible to capture revenue ($4 million)

6. Property Tax Extension Limitation Act (PTELL)
PTELL or the tax cap was implemented in Cook County with the 1994 Levy
Puts a cap on the increase in property tax extensions to the lesser of 5% or the CPI
Bonds are excluded from the tax cap
New property to the tax base falls outside the cap – allows districts to capture new tax dollars available to the district
Falling new property in District 72 has limited the increase to just above the CPI

7. PTELL Calculation Tax Extensions for the 2011 tax year = $8,743,974
2012 Proj. EAV = $439,856,000
New Property (proj.) = $4,000,000
CPI as of December 31, 2010 = 3%
Step 1 – Numerator of Limiting Rate = 2010 Ext. * (1+CPI) = $9,006,293
Step 2 – Denominator of Limiting Rate = 2011 EAV-New Property = $435,856,000
Step 3 – Limiting Rate = 2.07
Step 4 – Extended Taxes = 2012 EAV/100*Limiting Rate
Step 5 – Add’l from New Property = $82,654

8. 2012 Total Levy/Extension Year 2011 Ext. 2012 Levy 2012 Proj. Ext
New Property
$1,176,280
$4,000,000
$400,000
EAV
$471,144,877
$439,856,000
$436,256,000
% Change
-11.52%
-6.64%
-7.41%
TOT. Capped Funds
$8,743,974
$9,180,000
$9,014,345
1.84%
4.99%
3.09%

9. 2012 Proposed Levy 2011 Ext. 2012 Prop. Levy 2011 Proj. Ext. Education
$ ,425,002
$ ,710,000
$ ,588,917
O&M
$ ,126,507
$ ,200,000
$ ,178,346
Transportation
$ ,082
$ ,000
$ ,759
Working Cash $ $ $
IMRF
$ ,372
$ ,000
$ ,654
SS/Medicare
Tort Immunity
Special Education
$ ,557
$ ,000
$ ,256
Total Capped Fund
$ ,743,974
$ ,180,000
$ ,014,345
% Change
4.99%
3.09%
Tax Rate
1.8559
2.0634
2.0663
Bond and Interest
$ ,069
$1,402,245 
 $1,444,312
Total
$ ,418,043
 $10,582,245
$10,458,657 
Total Tax Rate
2.00
2.37 
2.3974
Based on an EAV of:
$ ,144,877
$ ,856,000
$ ,256,000

10. 2012 Levy Highlights
The 4.99% increase in the 2012 levy over the 2011 extension does not require a Truth in Taxation notice.
The smaller increase in the levy percentage increase can be attributed to the little money we get from new property
The tax rates will continue to go up as long as the EAV in the district goes down=> out of our control
Levy could go down depending on decision regarding debt payment; possible abatement