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Hillsboro board reviews three preliminary tax-levy options; decision set for December
Summary
Superintendent McBrain presented three preliminary 2025 levy options with projected tax-rate impacts (rates shown from $4.71 to $4.27 per $100 AV depending on under-levy choices). The board heard that an increase above 5% would require a Truth in Taxation hearing and will act at the December meeting.
Superintendent McBrain presented three preliminary options for the district's 2025 tax levy at the Nov. 11 board meeting, saying the final equalized assessed value (EAV) is not yet available.
He described Option 1 (using a 7.5% EAV increase) that would levy the full rate in unrestricted funds and raise the district's tax rate from $4.40 to $4.71; because any increase above 5% triggers a Truth in Taxation hearing, that option would require additional public notice. Option 2 (assuming a 5% EAV increase) would involve under-levying for Tort, IMRF and Social Security and would lower the rate to $4.37. Option 3 (also using a 7.5% EAV estimate but under-levying certain funds) would lower the rate to $4.27. Superintendent McBrain told the board that Options 2 and 3 would require budgeting transfers from the Education Fund to cover IMRF and Social Security obligations.
Board members did not take a final vote and will consider the levy at the district's regular December meeting after final EAV numbers are received.
