Truth in Taxation
Click here to see the 2025 Cerro Gordo CUSD #100 Truth in Taxation Notice.
What is a property tax levy?
A property tax levy is the amount of property tax dollars a school district requests in order to operate the district for the upcoming school year.
Key Terms:
Tax Levy: The revenue requested by a public taxing body.
Tax Extension: The actual revenue received by the taxing body.
EAV: Equalized Assessed Valuation, which is approximately 1/3 of the property market value.
How is property tax calculated?
The tax levy formula is established by the Illinois School Code. The basic formula takes EAV (including any new property growth in the district) and multiplies it by the tax rate. This equals the tax extension. This formula is difficult for taxing bodies to calculate precisely because the actual EAV is not available before the tax levy is due to be submitted to the county clerk's office in December. School districts make a prediction of the EAV based on estimates from the assessors to ensure we request enough revenue to provide for the needs of the district.
Is the property tax levy that is approved by the school board the final figure?
The tax levy that the board approves is not a final figure. It is a request based on estimations. Since the final figures for EAV are not known until the spring of the year following the board approved tax levy, a school district must estimate what they believe the final figure will be.
A district will request a rate higher than what might be anticipated in order to ensure that they have the opportunity to receive all the money allowable by law. A district cannot receive more than what the law allows by the property tax levy calculation. Even if the requested amount is higher than the results of the final levy figures, the district will only receive what is established by the final EAV and new growth figures.
Cerro Gordo CUSD #100 Tax Rate History
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Please contact Dr. Weidner (eweidner@cgbroncos.org or 217-763-5221 ext. 1403) if you have questions or would like clarification.