Dear Rockridge Community,
I’m writing to address some important information about property taxes and how they intersect with the recent rise in property values within Rock Island County.
The county has estimated that property values (Equalized Assessed Value or EAV) will increase by over 8% this year. When property values rise by more than 5%, Illinois law requires the district to follow the Truth in Taxation Act in order to maintain the established tax rate. This ensures transparency and gives property owners a clear understanding of how changes in property values impact their taxes.
Key Points to Keep in Mind:
1. Valuations Are Determined by the State
The State of Illinois determines property valuations. The Rockridge School District has no control over these valuations.
2. Tax Revenues Depend on Two Factors
Property tax revenues are based on:
The Total Tax Rate: This is set by the district.
The Equalized Assessed Value of Properties: This is determined independently by the state.
3. The Tax Rate Typically Decreases on Homes as Values Rise
As property values rise, the tax rate decreases proportionally. This ensures the district’s overall revenue remains stable.
4. This Has Nothing to Do with the Referendum
The Truth in Taxation requirement is unrelated to the recent referendum passed by our community. This is a standard process that occurs when property valuations rise significantly and has occurred anytime estimated values raised above or close to 5%.
5. The District’s Levy Proposal Will Not Raise the Tax Rate
The district's current levy proposal is designed to maintain, not increase, the total tax rate. We will publish the required black box notice to remain compliant with state law, but please understand this is not an indication of a tax rate increase. To illustrate this point, the chart above shows how the district’s tax rate has consistently decreased as property valuations have increased over the years:
Thank you for your attention to this matter. Rockridge School District is committed to being transparent and responsible with your tax dollars. If you have any questions or need further clarification, please don’t hesitate to reach out to my office.
Sincerely,
Marcus Bush
Superintendent
Rockridge Community Unit School District #300