THOMASBORO — The Thomasboro school board elected William Wilken as its new president and Dallas Johnson as vice president,
Wilken and Johnson, who were the only board members nominated, were unanimously elected. Wilken, who previously served as vice president, has been on the board for eight years. Johnson has been on the board since April.
The vote came in the wake of the resignation of former school board president Jane Sprandel.
Taxy levy discussion
In other business, the board began discussion on the 2019 tax levy that will fund the 2020-21 school year.
The school board has to approve the levy and submit it to Champaign County before year’s end.
The county uses the tax levy to calculate the actual tax extension, how much the district will ultimately collect on property tax bills. Several factors play into the formula making up the levy, including school district expenditures, the district’s overall assessed and a state multiplier.
Since 1994, the property tax extension limitation law has enforced a tax cap so that rates are limited to changes in CPI, and annual increases cannot exceed 5 percent without having a truth-in-taxation hearing.
Another figure to pay attention to is the county’s multiplier, which is applied to assessed values to obtain equalized assessed value, the taxable value of all property, land and buildings within the district. It is intended to bring assessments up to one-third of fair market value for comparison purposes.
The multiplier can cause EAV to decrease, but property tax appeals are another factor.
The board will vote on a final levy Dec. 12.
Superintendent Bonnie McArthur told the board that although she expects that local farmland property values will be increasing due to an effort to equalize values based on quality of the land, the district won’t be able to capture any additional revenue.
McArthur said the district still hasn’t received about $66,000 in tax revenue, which has to be given by the end of December.