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Rantoul board approves 2025 tax levy, says rate likely to fall as property values rise
Summary
The board approved a $7,356,693 levy to be filed for 2025 and separately approved abatement resolutions for three bond series; administrators said the likely extension will be lower under tax-cap law and the district's tax rate is expected to decline because of increased property values.
The Rantoul City Schools #137 Board on Dec. 18 approved a 2025 property tax levy to be filed with county authorities and passed three abatement resolutions tied to outstanding bond series.
Board members were told the proposed levy amount is $7,356,693. Staff explained that if the extension matched the levy it would represent a 4.98% increase in local property tax revenues, but the district expects the likely extension to be $7,275,849 under the state's tax-cap laws, a 3.83% increase in revenue. Administrators also said the likely tax rate will decrease from 3.9681% to 3.7536% because the increase in revenue is driven by higher property values rather than a higher rate.
The board approved separate resolutions abating 2025 taxes to pay debt service on Taxable General Obligation School Bonds (Alternate Revenue Source), Series 2016 (Qualified School Construction Bonds); General Obligation Refunding School Bonds, Series 2020; and General Obligation School Bonds, Series 2024. Each motion carried unanimously among members present (6'0yea, 0'nay, 1'absent).
Motion language recorded in the packet included the request to approve the tax levy and authorize filing; the motion was moved by Niki Pettit and seconded by Katie Johnston.
