The most recent newsletter from Nunda Township (the Fall/Winter Edition) reports the following:
TAXES: Nunda has just posted the tax levies for 2014/2015 tax year.
There will be NO increases to our tax levies.
They are all exactly the same as last year with the one excepion being the Road District, reduced by $30,000.
I quizzed Township Supervisor Lee Jennings as to whether that meant the levy was the same as last year’s extension.
The levy is the amount asked. As I have explained with other tax districts which have asked for more than the Tax Cap-allowed 1.5% (see “By 5-2 Vote McHenry Grade School Board Taxes to the Max“), levies can be far in excess of what will be allowed.
To keep the aggregate tax burden constant a tax district must not ask for (that is, levy) much more than what was collected last year.
County government levies the amount more that the County Board thinks will be needed to capture tax revenue from new construction.
If the levy is the same as the extension, that is, what was collected last year, then each taxpayers’ bill should decrease (assuming no changes in the assessment burden) because there has been an increase in the total assessed valuation.