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Pekin CSD 303 CFO presents $16.8 million estimated tax levy; board to vote in December
Summary
Chief Financial Officer Carla Schaefer presented the district's preliminary FY2026 levy: $16,792,024 total estimated levy, with property taxes covering ~48% of district revenue; formal approval scheduled for the Dec. 15 board meeting.
Chief Financial Officer Carla Schaefer presented the district's estimated tax levy for fiscal year 2026, saying the total estimated amount is $16,792,024 and will go before the Board at the December meeting for approval. Schaefer told the board the district’s equalized assessed value (EAV) is about $807 million, a 5.76% increase driven by market conditions, and that property tax revenue will account for about 48% of the district’s total revenues in the FY2026 budget.
Schafer outlined supporting assumptions for the levy: new property funds estimated at $1.5 million, a Consumer Price Index estimate of 2.9%, and an overall projected tax rate of about $2.23. She also told the board no bond abatement is planned and that a December public hearing is unnecessary because the district is requesting less than a 5% increase in the levy. The board will consider formal approval at its Dec. 15 meeting.
