2014 10-28-14 Tax Levy Presentationa

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Woodland School District #50
2014 Tax Levy
10/28/2014
Levy Process - Timeline
October 28, 2014 Board Meeting
• Levy Certified for Publication as a Truth in Taxation
Notice
(required 20 days or more prior to Board action if the
forecasted levy is greater than 5% of previous year)
▫ Truth in Taxation Notice Published 11/14/2014
(required 7 to 14 days prior to adoption)
November 25, 2014 Board Meeting
• Tax Levy Hearing followed by Levy Adoption
▫ Filing Deadline: By last Tuesday in December
Levy estimate confirmed – April 2015
Tax Levy Estimate – For Truth in Taxation Legal Notice
Based on the following variables…
• CPI 1.5% Consumer Price Index - Confirmed 1/15/2014
• 2014 Equalized Assessed Value - Expecting a reduction
of 1.4%. EAV of $1,426,478,606
▫ Includes: New Construction $5.0 Plus TIF Retirement $8.8
PTELL - Property Tax Extension Levy Limitation
• Limiting Rate Calculation – Determines base rate
allowable under the tax cap
Consumer Price Index 1.5% for 2014 Levy
% Change December to December
Equalized Assessed Value
$1,426,478,606 Estimate for 2014 Levy
$5.0 New Construction / $8.8 TIF Retirement
Tax Rate allowable under the tax Cap – PTELL
Property Tax Extension Levy Limitation
District Tax Levy is Subject to Rate Maximums
2014 Truth in Taxation Notice
Questions
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