Tax Levy Updates

There have been a series of decisions and proposals for the upcoming tax levy from many of the local government bodies that depend on them recently. This post is to help put them in one place with links to help understand what all this may mean by the time the actual bill comes due to property owners next month:

MTD: "The Champaign-Urbana Mass Transit District (MTD) has approved a nearly 30 percent tax levy increase. MTD is funded through property taxes, grants, and ride fares. This increase does not mean that your property taxes will go up by 30 percent."

City of Champaign: "The City Council has determined that an appropriate total tax levy rate for
the City of Champaign is $1.3152" (the 2017 figure was also $1.3152)." and "Still, the past year's growth will see $826,023 more in property-tax revenue flow into the city's coffers, even with the tax levy at the same level as it has been for the past six years."

City of Urbana: "This will put Urbana's rate within a few cents of Champaign's rate next door. But without hospital properties to count into its levy, the city is likely to see a decrease of $269,375 in revenue available for basic city services."

Unit 4: "The Champaign school district wants to levy for an $8.4 million boost in property taxes next year but is projecting the increase would have a minimal impact on the tax rate paid by property owners."

District 116: "Residents can probably expect to see a lower school tax rate on their tax bills next year."

Parkland: "trustees approved an increase to the school's property-tax levy on Wednesday night that will allow the college to capture additional taxes after an increase in the equalized assessed value of property within the district. Still, Chief Financial Officer Chris Randles said, taxpayers should see a decrease in the college's rate on next year's bill."

Here's a primer post with a few different explanations to help people understand the difference between the tax levy and the tax rate, and how they affect one another: Tax Levies versus Tax Rates