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Geneva 304 staff present tentative 2025 tax‑year levy; truth‑in‑taxation hearing set for December
Summary
District finance staff reviewed the tentative levy for the 2025 tax year (receivable in 2026), explained levy components and the county verification process, and described next steps including a required truth‑in‑taxation hearing in December before the board adopts a final levy.
Todd Leam, presenting finance slides to the Geneva CUSD 304 board, described the district’s tentative levy for the 2025 tax year, receivable in 2026, and outlined how equalized assessed value, new property construction and the Property Tax Extension Limitation Law (PTELL) together determine the district’s extension.
“This is the 2025 tax year levy. It’s receivable in 2026,” Todd Leam said as he walked the board through rate‑setting history, the district’s estimated new property totals and the role of the consumer price index in limiting increases.
Why it matters: the levy sets the district’s request to the county and frames the amount of property‑tax revenue available for education, special education, operations, transportation and other capped funds. Leam said new property construction captured by the levy fell from about $15.6 million last year to roughly $12.2 million this year, and staff used a 2.9% CPI figure in the levy calculations to determine the permissible cap on most funds.
Leam described the district’s process: staff files a tentative levy, the county verifies assessed values and applies limiting factors; the board then holds a truth‑in‑taxation hearing before adopting a final levy to be placed on file with the county. He told the board the draft showed an estimated increase in tax receipts over the prior year (Leam cited a figure of $4,378,920 higher than the prior year in his presentation).
Board members asked clarification questions about specific fund components and about the county’s role in revenue recapture and the final calculation. Leam said bonded interest and working‑cash levies remained unchanged in the draft and reiterated that the board would return in December for the public hearing and final adoption.
What comes next: the board will post the tentative levy on the district website and hold the required truth‑in‑taxation hearing in December. Staff will then bring a final levy for board consideration and, if adopted, it will be filed with the county.
