The Yorkville CUSD 115 Board of Education is expected to adopt a $47,018,000 tax levy at tonight’s board meeting.
The total 2011 levy was $44,254,548, 6.24 percent less than the proposed 2012 levy. Estimated property taxes in the 2012 levy are $5,389,538, according to district documents. That is a 6.91 percent increase over the $5,041,065 in property taxes in the 2011 levy.
The school district is the largest recipient of property taxes levied in Yorkville. By law, every school district is allowed to levy, or ask for, more taxes than they will collect, based on a formula utilizing the assessment of a property and the consumer price index.
Board President Dave Dockstader told Patch in 2011 that 82 percent of the district’s revenue stream comes from property taxes, with 1.9 percent coming from federal aid; 12.4 percent from the state; and 3.1 percent from other local sources.
This revenue breaks down into expenditures through eight categories. Salaries make up 44 percent of expenditures, with benefits taking another 18.6 percent. Purchased Services are 13.8 percent; supplies and materials are 8.8 percent; and capital outlay is 0.8 percent. The remaining expenditures include 12.7 percent for other projects, .4 percent for non-capitalized equipment and .5 percent for contingencies.
A levy hearing is set for 6:45 p.m. and the policy will be up for a vote during the regular meeting following.
In addition to the tax levy, school board officials will vote on the proposed $63,399,000 budget.
Tonight’s meeting will be held at the district’s administrative offices.