Rising Property Values Help Lower Taxes for Moline School District
Thanks to rising property values, residents of the Moline School District will pay slightly less in taxes next year. Monday night the school board gave its final approval to a tax levy for 2022.
Chief Financial Officer Dave McDermott says the 45.4 million dollar levy is a small increase over this year, but the rate for property owners will go down.
"I think the good news is the e.a.v., which is the equalized assessed value of the district, has been increasing for the last three or four years which was not the case for the years before that, and that allowed us to lower the tax rate and still meet the needs."
That means the tax bill for the owner of a 100,000 dollar home will drop 8-dollars and 82-cents next year, or about one-half of one per cent.
McDermott says federal and state stimulus money will pay to air condition six schools - it also allowed the district to hire 30 additional teachers for this school year to make up for "lost learning" caused by the pandemic.