August 16, 2022
Manhattan 114 Families & Community
It has come to my attention that there is some confusion created by the required public notice that must be published prior to a sale of the bonds. Let me reassure you that in spite of what the required notice states, there will not be any increase in the Manhattan School District 114 tax rate. The Manhattan School District 114 tax rate will remain the same at $4.2552 for the immediate future, as pledged by myself and the Board of Education.
Each year, Will County must levy taxes to pay the principal and interest on outstanding bonds. However, after the initial filing of the tax levy in December, in March, the Manhattan Board of Education holds a special hearing to abate a significant portion of the bond & interest levy to lower the tax rate down to $4.2552. The requirements of the public notice dictate that the cost of the bond and interest and what the required tax rate would be to make the payment must be disclosed in the public hearing notice.
Please rest assured, the Manhattan School District 114 Board of Education will conduct a special meeting in March of 2023 and each year thereafter as they have done in previous years, and abate a portion of the bond & interest so the school tax rate remains at $4.2552. The only increase in the amount of property tax that you will see on your tax bill will be the result of one of two things:
An increase in the tax rate from one of the other taxing bodies
An increase in the assessed value of your home/property
Please do not hesitate to contact me directly by email or phone if you have any questions or would like any additional explanation.
Respectfully,
Rusty Ragon, Superintendent
Manhattan School District 114