2. Levy Components? EAV—Equalized Assessed Valuation Funds Fund Rate Overall Levy Rate

3. EAV Equalized Assessed Valuation is 1/3 the value of a property or properties. EAV is also the value the Overall Tax rate is applied too, to determine tax revenue for taxing bodies. Example: $150,000 Home EAV=$50,000 AC-Central 2012 Levy year EAV=$41,852,295 PORTA 2012 Levy Year EAV=$142,840,162

4. Funds In General there are two types of funds. Those that have a tax payer approved rate Those that have a flexible rate and may change to meet the needs of the District.

5. Set/limited Rate Funds Education Transportation Building and Grounds Special Education Working Cash Lease Health Life/Safety

6. Variable Rate Funds Bond and Interest Limited to 13.8 % of District EAV IMRF Retirement revenues for non-certified employees Social Security Social Security Insurance program Tort Immunity Rate is set by District to insure against litigation, used to pay Liability, facility and auto insurance, etc.

7. Calculating Levy Revenue Calculating the amount of revenue produced within each fund is as simple as multiplying the rate by the EAV. Example. PORTA Education Fund Rate =$2.48 per $100 dollars of Assessed valuation PORTA EAV =$142,840,162.0248 x 142,840,162=$3,542,436

8. Overall Tax Rate AC Central Levy Fund Rate Education2.85 B/G.50 B/I.30038 Transportation.20 IMRF.22084 Social Security.24172 Special Education.04 Tort.96833 Working Cash.050 Health Life Safety.05 Lease.05 Total5.47127 PORTA Levy Fund Rate Education2.48 B/G.5 B/I1.0145 Transportation.20 IMRF.1180 Social Security.13 Special Education.04 Tort.2 Working Cash.05 Health Life Safety.05 Lease.05 Total4.8325

9. Yearly Levy Process October/November-- District’s receive anticipated EAV from the County Assessments Office. December—Board sets the levy If the anticipated levy is 105% of the previous year’s extension (minus Bond and Interest) the board must hold a truth in taxation hearing. What causes an increase of more than 105%? May—EAV confirmed and final revenue set. Tax Bills go out in June and first payments are due in July.

10. Questions?