ROANOKE - The Roanoke-Benson District 60 school board approved a tentative tax levy at Tuesday night's meeting that expects the revenue from property taxes to go up from $4,664,414 to $,5,029,386, an increase of $364,972.
The reason is due to a rise in the Equalized Assessed Valuation (EAV) and increases in the levies for Social Security and the Illinois Municipal Retirement Fund (IMRF). Last year, the board did not levy for Social Security or IMRF due to surpluses in those funds that covered expenses. This year, the board levied 11 cents to generate $95,446 in each of them. The funds are designated specifically for those purposes, and the money cannot be used for other expenses.
“Last year, we did not levy; now, we’re just balancing it back out in those funds,” said Superintendent Rohn Peterson.
R-B saw a growth in the EAV of about 4.4 percent, going up from $83,123,943 to $86,768,909.
See article on Nov. 23 Woodford County Journal newsstands