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District 112 outlines 2025 levy timeline; CPI-U caps possible increase at 2.9%
Summary
Business services staff told the Board the district used the Dec. 31, 2024 CPI-U (2.9%) to estimate the 2025 tax levy cap; the Board will review the proposed levy Oct. 14 and consider an estimated extension resolution Oct. 21 with a public hearing Nov. 18.
Assistant Superintendent Jeremy Davis explained the preliminary 2025 tax-levy timeline and calculations, noting that the allowable tax-extension increase is capped at the Consumer Price Index for All Urban Consumers (CPI-U) or 5%, whichever is less. "Therefore, District 112 will be capped at a 2.9% tax increase (excluding new property)," Davis said, citing the Dec. 31, 2024 CPI-U figure.
Davis told the Board the proposed levy will be discussed at the Committee of the Whole on Oct. 14, the Board will be asked to approve a resolution for the Estimated Aggregate 2025 Levy Extension at the Regular Meeting on Oct. 21, and a legal notice and public hearing on the levy will be held in conjunction with the Nov. 18 Board meeting before final approval.
