|Taxing Body & Fiscal Year||Budget Estimate||10/2010 Estimate|
|School Dist 428 -- 2011||$1,038,658||$1,795,083|
|City of DeKalb -- 2011||$750,000||$221,800|
|City of DeKalb -- 2012||$670,000||N/A|
The school district is allocating its share for debt service, while the City of DeKalb’s will be dropped into the General Fund.
One might ask why the city has projected $670,000 for FY2012 since the October estimates came in $528,200 under its preliminary estimates. At least two factors must be at play: the rise in city property tax from .60 to .65, and a rosy projection of 11.67% growth in sales taxes even though the reason for the October surplus estimate adjustments were made in response to a state notification that the sales tax portion would be reduced 22% due to a general drop in sales taxes.
Might make one wonder about other possible rainbows and unicorns in this budget draft.