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Woodland School District #50 2011 Tax Levy Hearing

Woodland School District #50 2011 Tax Levy Hearing. Levy Process. Levy Certified for Publication: October 25, 2011 (20 days or more prior to action) Truth in Taxation Notice Published (7 to 14 days prior to action) November 10, 2011 November 22, 2011 Board Meeting Tax Levy Hearing

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Woodland School District #50 2011 Tax Levy Hearing

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  1. Woodland School District #502011 Tax Levy Hearing

  2. Levy Process • Levy Certified for Publication: October 25, 2011 (20 days or more prior to action) • Truth in Taxation Notice Published (7 to 14 days prior to action) November 10, 2011 November 22, 2011 Board Meeting • Tax Levy Hearing • Levy Adoption • Filing Deadline: Tuesday December 27, 2011 • April 1 2012 – Levy Estimate Confirmed

  3. Tax Levy Estimate Based on the following variables… • EAV – Equalized Assessed Value (33% of Market Value) • CPI – Consumer Price Index 1.5% • New Construction (Growth $4.8 million) (PTELL - Property Tax Extension Levy Limitation) • Limiting Rate Calculation – Determines increase allowable under the tax cap

  4. Equalized Assessed Value$1,711,082,135 Estimate for 2011 Levy $4.8 million New Construction / Property Estimated

  5. Consumer Price Index1.5% for 2011 Levy

  6. PropertyTaxExtensionLevy Limitation“Determines the tax rate that can be extended”

  7. 2011 Truth in Taxation NoticePublished to Capture Unknown New Construction / EAV

  8. Area Elementary 2010 Tax Rate ComparablesWoodland is Average (5 below – 5 above)

  9. Questions

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