DECATUR — The Decatur Board of Education on Tuesday approved a property tax levy $30,984,143 for a rate of $4.86 per $100 of equalized assessed valuation. That works out to a tax bill of $1,620 for a $100,000 home.
The amount is about $3,000 less than the 2016 levy, and because of that, a public hearing will not be required to set it. The vote took place during a special meeting held by the board on Tuesday night.
The board additionally approved property tax abatement for the bonds issued to pay for the renovations of the high schools, because those bonds are paid back with sales tax revenue from the 1 percentage point increase approved by voters in 2010.
The board also approved moving $2.1 million from the working cash fund to the capital projects fund to pay for facility renovations, specifically air conditioning projects. The capital projects fund was created by the Illinois State Board of Education and is a sub fund of operations and maintenance.