11 / 50
11
2.550%
Limiting
Rate
EAV
Revenue
$5,355,000
Total Limited
Extension
$210,000,000
x
x
EXAMPLE
STEP 2.
Limiting Rate
Fund
Extension Computed rate
(a)
Education
$4,255,000
2.027
Operations &Maintenance
700,000
.333
Transportation
200,000
.095
IMRF/Social Security
200,000
.095
Total
$5,355,000
2.550
(a) Computed by dividing the extension for each fund by the current year EAV of $210,000,000. The district’s maximum rate for each fund is established by the
state limit. There is no set limit for the IMRF/Social Security fund; it reflects the district’s need.
EXAMPLE
STEP 3.
Limiting
Rate
2.550%
$5,000,000 x 1.02
$5,100,000 x 1.02
$210,000,000 minus $10,000,000 $200,000,000
last year’s extension
A.
STEP 1.
EXAMPLE
B.
C.
current year’s inflation
current year’s EAV
new construction
(CPI)