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Mahomet-Seymour board approves tax levy after late EAV update; tort levy trimmed
Summary
The Mahomet‑Seymour Board of Education approved the district's 2025 tax levy after staff reported late updated assessed values that raised overall EAV about 8.9%. Administrators reduced the tort fund levy by roughly $21,500 to hold the tax rate steady and avoid a small increase to taxpayers.
Board members approved the district's 2025 tax levy Dec. 15 after district staff said updated taxable valuations received Friday changed some line items in the levy certificate.
The superintendent presented a certificate that reflected the updated equalized assessed value (EAV). District staff said the EAV rose about 8.9% year over year; to keep the overall tax rate unchanged, staff recommended reducing the tort fund levy by roughly $21,500. The board approved the levy in a recorded call vote.
Why it matters: the levy sets property tax collections for 2026 and frames the district's resources for maintenance, operations and debt service. Administrators told the board they were still working through five‑year projections on retirement and benefit funds and may need to fully levy IMRF (pension) in future years.
Details supporting the vote: administration said the late update to taxable values arrived shortly before the meeting and affected the final levy calculations; staff recommended using the updated certificate presented at the meeting rather than numbers printed in the packet. Board members asked questions about the timing and communication of taxable‑value updates from county assessors and agreed staff should work to get earlier notice next year.
What's next: staff will forward the certified levy to the counties for processing. The board also discussed longer‑term financing options for overcrowding at the junior high, including bonding scenarios and the possibility of a referendum; staff said several bonds will fall off the tax rolls in coming years and are modeling laddered bond options with financial advisors.
