The Effingham Unit #40 Board of Education passed a 2016 tax levy, that is payable in 2017, to the tune of $15,366,442 at Monday’s meeting. The levy amount represents an increase of just over five percent, with bond, in comparison to last year’s amount of $14,873,490. While the district is requesting a larger amount this year, Superintendent Mark Doan is predicting that the actual tax rate, which should land near 3.573, will be down from last year’s rate of 3.613.
The anticipated rate could change based on the district’s EAV, or equalized assessed valuation. Superintendent Doan, says that the district can’t control that.
Unit #40 is especially tricky, due the presence of both TIF areas and the Enterprise Zone that pulls significant amounts of tax dollars off the rolls. However, Unit #40’s tax rate has been constantly lower than other districts in the surrounding area. The levy was approved by a 4-1 vote.
The local tax levy accounts for some 59 percent of the district’s operating budget. Another 21 percent comes from General State Aid, which has been dwindling and unreliable in recent years. 7 percent comes from Federal Funding and the final 13 percent come from other local and state sources.