Forest Park board trims back property taxes
CRYSTAL FALLS—Property owners in the Forest Park school district will be paying slightly less in taxes this year.
A bigger reduction is in store a year from now.
After conducting the required Truth in Taxation hearing, the School Board formally approved its budget and tax rates for the 2019-20 school year during its June 24 regular meeting. The new fiscal year started July 1.
In 2019-20, Forest Park will levy a total of 7.97 mills on households—the state levy of 6 mills, the 1-mill sinking fund approved by voters in November 2017 and 0.97 mills for the 2012 debt retirement bond.
For other (non-homestead) properties, the levy will be 19.97 mills—the 18-mill non-homestead levy, the sinking fund and the 2012 bond retirement.
In 2018-19, Forest Park taxpayers paid 8.02 mills on households and 20.02 on non-household property. The slight change comes from the levy for the 2012 bond retirement being reduced from 1.02 mills to 0.97 mills.
Bigger changes are coming next year.
“We are retiring the last of our debt in May 2020,” Finance Committee Chair Stacy Gasperich reported. That’s when the 2012 debt retirement bond will be completely paid off.