Meridian CUSD #223 2008 Property Tax
Rate increase due property purchase
June 27, 2009
Public school property taxes are typically the largest part of
the total property tax bill in most communities; and the Meridian
School District is no exception. This past tax year, the Meridian
CUSD #223 property tax rate was $4.93 per $100 of assessed value.
This rate was an increase of $.23 per $100 of assessed value over
the previous tax year. This increase was due to the purchase of 180
acres south of the Stillman Valley High School campus. The property
was purchased to supply land for future building sites.
Consequently, the District’s Bond and Interest rate increased by
$.23 per $100 of assessed value and contributed to the over-all tax
rate increase to $4.93. On a home with a market value of $200,000,
the $.23 rate increase resulted in $154 of additional property tax
from last year. Any other increase in the over-all tax bill would
be attributed to an increase in the home market value from last
year or a rate increase from another taxing body.
The opportunity to purchase the property south of the high school
campus came at an opportune time due to five primary factors: 1)
the reduced price of farm land due to the economy and lack of
developer interest; 2) borrowing rates were very favorable; 3)
enrollment projections indicated the need for an additional
building in the relative near future; 4) the availability of
property adjacent to the high school and in close proximity to
Highland School provides maximum logistics flexibility; and 5) the
size of the property provides for long term facility planning.
The Meridian School Board is very sensitive about establishing a
reasonable tax rate for District residents while providing a
quality education for students; particularly given the fact that
residential property makes up 75% of the Districts total assessed
value. Historically, the Meridian CUSD #223 tax rate and Operating
Expenditure per Pupil have been low compared to area school
districts. For example, of the 29 unit school districts in
Northwest Illinois, only one district had a lower 2007-2008
expenditure per pupil rate than the Meridian School District. At
the same time, the Meridian School District has earned the
SchoolSearch™ Bright Star Award several times for scoring in the
top one-third on state test scores while being in the bottom
one-fourth in operating expenditure per pupil. In 2009, only 68
Illinois school districts earned Bright Star recognition. The
Meridian School Board is committed to providing a high quality
education for students within a reasonable tax rate.
If there are questions regarding the District tax rate or on any
other topic, please contact Bob Prusator, Superintendent at (815)
645-2606.
