The Clinton Herald, Clinton, Iowa

Fulton

Board sets tax levy hearing

By Natalie Conrad
Herald Staff Writer
FULTON, Ill. — A tax request exceeding 5 percent could impact River Bend School District residents.
      This year’s tax levy projection is higher than the usual amount for the Illinois Municipal Retirement Fund and social security due to recent budget deficits in these funds.
      The Board of Education set a tax levy hearing for Dec. 17 at 6:30 p.m., during which it will consider the tax request exceeding 5 percent to guard against the possibility that the actual Equalized Assessed Value might be more than 5 percent higher than the assumption EAV.
      The board will act on the 2012 levy at the regular December board of education meeting. The assumption EAV was not available at time of press.

Discussion

November 20, 2012

Whiteside County may put sales tax issue for schools on ballot

By Natalie Conrad Herald Sports Writer

FULTON, Ill. — Whiteside County residents could see a new sales tax referendum on the election ballots this spring.

The consideration of a one cent sales tax to benefit the district was introduced at the River Bend Board of Education meeting on Monday.

“This would certainly help us down the road,” Board Vice President Jane Orman-Luker said.

This Illinois County School Facility Tax was introduced to the board by Stifel, Nicolaus & Co., a national brokerage firm with a focus on Illinois K-12 finance, in early November. The nontraditional approach for Illinois public schools allows county voters to approve a sales tax to fund school facility costs at a one percent maximum in one-fourth percent increments. This law is similar to one that is currently in place in every county in Iowa.

Sales tax revenues can only be used for certain items. This includes new facilities, additions and renovations, land acquisition, ongoing maintenance, architectural planning, durable equipment, fire prevention and life safety, disabled access and security, energy efficency, parking lots, demolition and roof repairs. Revenue cannot be used for direct instructional costs, text books, buses, detached furniture and fixtures, computers, moveable equipment, operating costs or salaries and overhead.

These taxes can be used multiple ways. The district could use sales taxes to pay as they go on capital projects by saving up revenue over time. They can issue new bonds for current capital needs or retire existing debt issued for capital purposes. This revenue can also help the district abate or decrease existing property taxes and avoid levying property taxes.

“We are very judicious with our budget, but this would definitely help with the building and grounds, thus allowing for more educational opportunities,” Superintendent Chuck Holliday said.

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