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Board approves tentative tax levy; requests fall just under truth-in-taxation threshold
Summary
Richland County CUSD 1 approved a tentative tax levy that the district estimates will increase requested levy amounts by 4.98% (below the 5% threshold that triggers a public hearing), with an estimated effective tax rate of $3.94 per $100 of assessed value.
The Richland County CUSD 1 Board of Education on Tuesday approved a tentative tax levy for the 2025 tax year that district staff said would produce an estimated effective tax rate of $3.94 per $100 of equalized assessed value.
Chief financial staff reviewed fund balances and explained the district's levy process, which requires the board to adopt a tentative levy in October and a final levy in November. District staff said the county assessor is projecting a 7.06% increase in equalized assessed value (EAV) for the district; the district requested an increase in levy authority that would translate to an aggregate levy increase of 4.98% (excluding bonds). That 4.98% figure is below the 5% increase threshold that would require a separate truth-in-taxation hearing, district staff said.
The presentation to the board outlined the district's rationale: a portion of levy-eligible funds (IMRF and Social Security) were deliberately under-levied to draw down large fund balances and reduce the tax rate over time; staff described an anticipated need to use approximately $400,000 from IMRF/Social Security fund balances next year. Board discussion covered expected salary cost pressures, with staff noting a hypothetical 5.2% increase applied to the district's current salary base (about $17.1 million) would equal roughly $889,000 — a figure district leaders said is larger than the levy increase they requested.
The board approved the tentative levy on a roll call vote. Superintendent Rogers and finance staff emphasized the tentative levy is an estimate and final extension will be set by the county clerk in the spring; staff said the board will revisit the levy at the November meeting to adopt a final levy.
