I. A public hearing to approve a proposed property tax levy increase for Springfield Public Schools District #186 for 2024 will be held on December 2, 2024 at 6:30 p.m. at 3063 Fiat Ave. Any person desiring to appear at the public hearing and present testimony to the taxing district may contact Julie Hammers, Board Secretary, 3063 Fiat Ave, Springfield, Illinois 62703-5930, 217-525-4406.
II. The corporate and special purpose property taxes extended or abated for 2023 were $118,725,242. The proposed corporate and special purpose property taxes to be levied for 2024 are $124,363,526. This represents a 4.75% increase over the previous year.
III. The property taxes extended for debt service and public building commission leases for 2024 were $9,237,359.The estimated property taxes to be levied for debt service and public building commission leases for 2024 are $9,371,088. This represents a 1.45% increase from the previous year.
IV. The total property taxes extended or abated for 2023 were $127,962,600. The estimated total property taxes to be levied for 2024 are $133,734,614. This represents a 4.51% increase over the previous year.
V. Springfield Public Schools has estimated its equalized assessed valuation to secure new growth revenue and must adhere to the Property Tax Extension Limitation Law (PTELL or “tax cap” law). PTELL limits the increase over the prior year in the property tax extension of Springfield Public Schools to the lesser of 5% or the percentage increase in the Consumer Price Index (CPI), which is 3.4%.