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Urbana SD 116 board approves proposed 2024 tax levy after presentation
Summary
After a presentation explaining equalized assessed value and the district’s use of a 25% "balloon levy" to capture possible new construction and TIF expirations, the board voted to approve the proposed 2024 tax levy in a roll-call vote.
The Urbana School District 116 Board of Education approved its proposed 2024 tax levy following a presentation that described why the district often files a “balloon levy.” The board voted yes on the motion to approve the levy during a roll-call vote (Vice President Exum, President Pawlowski, Member Langendorff, Member Baxley and Member Jones voting yes).
The presenter explained that the levy request is a formal request for property-tax revenue and described key…
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