ROCHELLE – Rochelle Elementary School District 231 is proposing a 4.97% increase in its property tax levy for the next fiscal year, with a preliminary request of $12,485,955.
Business Manager Kevin Dale said the estimated equalized assessed valuation for property within the district’s boundaries in Ogle and Lee counties is about $455.2 million, a 4% increase from the current rate setting valuation.
Dale explained that the district bases its request on the value of property in the community, saying, “That’s where the EAV comes from, and that’s what we base our dollar requests off is what’s in the community.”
When bond and interest payments are included, the overall proposed increase drops to 4.49% because of lower debt costs.
Dale said the levy would help pay for educational programs and health and safety needs using local property tax dollars. The request is below the 5% threshold that would require a truth in taxation hearing. The proposal is preliminary, and the school board expects to consider approval in November ahead of the December deadline.