GCMS school board to vote on tax levy
GIBSON CITY — The school board is scheduled to approve the district's tax levy Tuesday after the board's personnel and finance committee signed off on the property-tax-revenue request last week.
Superintendent Anthony Galindo and committee members decided on the amount of money to ask for based upon the estimated equalized assessed valuation from Champaign, Ford, Livingston and McLean counties.
"You levy what you need," Galindo said. "If you identify what you need then you ask for that much."
The district's equalized assessed valuation is expected to increase by more than $4 million to $115,405,864. The rising value of farmland accounts for much of the increase, but new legislation may slow the future increases in farmland assessments.
The current total levy increase for 2013 is 6.35 percent, which is why Galindo will ask for an aggregate levy increase of 6.94 percent to eliminate any chance of missing out on possible funds.
Because the requested levy increase is more than a 5 percent increase from last year, a Truth In Taxation hearing must be held where residents will be allowed to give their thoughts on the budget and proposed levies. The hearing will take place before the next finance committee meeting Dec. 19.