Quincy School Board to hold Truth in Taxation hearing at Wednesday meeting
QUINCY — While the Quincy School Board is expected approve a decrease in the 2023 tax rate, an increase in property values is expected to put the school district over a five percent increase in the tax levy.
A Truth in Taxation hearing is scheduled at the beginning of tonight’s School Board meeting at 6 p.m. at 1416 Maine.
At the November School Board meeting, Director of Business Operations Ryan Whicker informed the district was looking at the levy decreased rate from $3.96 to $3.88 per $100 in assessed valuation.
Whicker said estimates from Adams County show property values increasing by more than 7 percent from last year, which means even with a lower rate, more than likely property owners will still pay higher property taxes.
When that percentage is more than 5 percent, that calls for a Truth in Taxation hearing according to state statue.
The district estimates bringing in more than $45 million in property tax revenue next fiscal year, and increase of $3 million from this fiscal year. More than half of the property tax dollars paid by property tax owners in the Quincy Public School District boundaries go to the school district.
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