We have received a few questions on the mandatory posting that is in the Ogle County Life this week. As a district, we are mandated by code to post information with that precise wording whenever the district anticipates revenues from taxation to increase five percent over the previous year. To explain the situation . . . the district levies taxes, and the total amount that we ask for is our tax rate. The money we receive is a function of multiplying our tax rate times the EAV of the district. The issue for the district is that EAV is projected to go up more than 5% based on the calculations provided by the county. Any time the district PROJECTS to bring in more than 5% of the year before, we must hold a hearing and post the confusing language in the paper. So, the money we are set to bring in will go up by more than 5% as a function of the increase in the value of homes/property in our district.
2023-2024 Levy
November 29, 2023