Valley View board approves tentative 2025 levy estimate, projects 4.94% ask

Valley View School District administrators presented and the school board approved a tentative 2025 tax levy estimate Nov. 17 that asks for a 4.94% increase over the 2024 extension, exclusive of existing debt.

Finance director John Renich explained legal requirements and caps under the Truth in Taxation framework and the property tax extension limit law, and told the board the district’s levy will be capped by the consumer price index. "We're proposing a 4.94% increase to the 2[0]24 extension, exclusive of existing debt," Renich said, adding the county’s application of PTELL means most homeowners will be limited by the CPI figure. He presented scenarios showing the projected monthly tax impact: about $11 a month on a $240,000 home, $14 on a $300,000 home and $15 on a $350,000 home.

Renich walked the board through a chart of equalized assessed valuation and new property scenarios, noting how tax increment financing (TIF) districts coming off the rolls affect projections. He described three projection scenarios for new property value and the resulting estimated levy revenue and stressed the levy adopted tonight is an estimate that will be finalized at the district’s next meeting.

The board moved and approved Resolution 2605 in a roll-call vote to set the estimated levy as presented. The administration said it will publish a notice and hold a public hearing even though the requested increase is below the statutory threshold that would require it.

What happens next: the district will publish levy notices, complete the county calculations and return the final levy for formal adoption at the following board meeting.