Rankin Board approves proposed 2025 tax levy, accepts revenue-recapture payment

The Rankin School District #98 Board of Education voted to approve the district’s proposed 2025 aggregate tax levy increase of 4.998% and to accept a revenue-recapture payment at its Dec. 15 meeting. The motions passed by roll-call vote, each 5-0.

Superintendent Dr. Gordon presented the levy recommendation and explained the district must operate under Illinois’ PTELL (Property Tax Extension Limitation Law). He said the district’s estimated 2025 EAV is $87,971,409 with estimated new growth of $1,758,070 (the latter figure includes a $777,900 adjustment for unforeseen circumstances). The 2025 levy request totals $3,343,130, including $269,692 for bond and interest; Dr. Gordon said county-certified totals without the unforeseen-growth adjustment are anticipated to be approximately $3,315,646. He noted because the aggregate increase is below 5% a Truth in Taxation hearing is not required.

The board also approved acceptance of the $11,679.47 revenue-recapture amount after Dr. Gordon reported his consultation with Angie Gandy, a tax consultant in the Tazewell County Clerk’s Office, who advised the recapture is treated differently in levy calculations. Board members did not record any public comment opposed to the levies during the meeting.

Why it matters: the board’s action preserves the district’s right to collect growth-related revenue in 2025 under PTELL; failing to levy up to permitted limits can reduce future yearly revenue under the statutory formula.