The Rockford School Board has agreed to keep its tax levy flat again this year for the upcoming tax cycle. In addition, RPS 205 will not take revenue that districts are entitled to under state law. That revenue is tied to the Consumer Price Index, or CPI. This is the fourth consecutive year the School Board has agreed to not collect CPI revenue from its local taxing body.
The School Board agreed tonight to freeze the levy request at $143.3 million – the same amount collected as last tax cycle. Since 2012, RPS 205 has given taxpayers about $16.5 million per year in uncollected tax revenue. That tax relief is thanks to the 58 cent “Kids Win” tax relief, in addition to not collecting CPI revenue.
“The Administration and Rockford School Board are committed to college and career readiness for our students without adding to the taxpayer burden,” said Superintendent Ehren Jarrett.
Each year, the board-approved tax levy drives tax revenue collection in the spring and fall of 2016. Despite the board holding the line on the levy, the tax rate is still expected to increase because of declining local property values. The tax rate is $7.78 now; it is projected to increase to $7.90 for 2015.
Not taking the CPI increase saves the owner of a $100,000 home about $29.