Rockford Public Schools set property tax levy. Here’s what it could mean for your bill
By Kevin Haas
Rock River Current
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ROCKFORD — Rockford School Board members have decided to collect roughly the same amount in property taxes as they did a year ago, marking the 11th consecutive year of a flat property tax levy, according to Superintendent Ehren Jarrett.
The board voted unanimously this week to collect $142,477,731 in property taxes, which includes roughly $355,000 in additional revenue that comes from new property added to the district in the past year. That means the district is not collecting any new money from existing taxpayers as a whole.
“I don’t know that we can do it forever, but we’re going to see huge reductions in rate because of this,” Jarrett said.
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The board had been presented with three options: the other two would have captured a 2.5% increase or the maximum 5% increase. Jarrett’s administration asked for the levy to be held flat.
“Property tax payers are going to see higher values and lower rates, which is where we want to be,” Jarrett said. “Huge, huge thanks to our board for supporting that.”
The decision comes as property values have increased on average about 12% in Rockford after the latest assessment. The value of all property hit a new record high in Winnebago County.
When property values rise, tax rates fall so long as government entities opt to collect the same amount or less in taxes. The dollar amount you pay on your bill depends on how the value of your property changed and the total rate from all taxing districts where you live.
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Most Rockford taxpayers pay to 11 different taxing bodies, and the school district makes up about half of your total bill.
How your bill may change
The district estimates its levy will result in a 5.146 tax rate, although the actual rate will be calculated by the Winnebago County Clerk’s Office after all assessment challenges are complete. The rate last year was 5.7625, and it was 6.2646 in 2021.
Under the estimated rate, the owner of a $150,000 home would pay about $2,265 to the district when factoring in the homeowner exemption. Under last year’s rate, the owner of a $150,000 home paid $2,535, which means if your home value was unchanged you pay roughly $270 less this year.
However, even with the falling rate you could still see a higher bill depending on how the value of your home changed.
For example, if your $150,000 home increased by the city average of 12% to $168,000, you would pay approximately $2,573 this year, or about $38 more.
Homes that saw their value stay the same or increase by less than the average of 12% will see a smaller bill year-over-year, depending on how much their home value changed.
Rockford Public Schools property tax rate by year
2023: estimated: 5.1460
2022: 5.7625
2021: 6.2646
2020: 6.5857
This article is by Kevin Haas. Email him at khaas@rockrivercurrent.com or follow him on X at @KevinMHaas or Instagram @thekevinhaas and Threads @thekevinhaas
