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Decreasing property values has Peru Elementary prepared for less tax dollars

Posted by wlpo on November 12, 2014

If you live in the Peru Elementary School District, your tax rate is going up.

The school board’s finance committee is suggesting next year’s tax rate be $3.15 per $100 assessed valuation of a home. That’s an increase of a little over a cent from this year’s property tax rate. The full school board will approve the tax levy next month.

Despite the higher rate, the district projects less property tax revenue due to a drop in property values. That means even though your tax rate is going up, you’ll probably end up paying less in taxes because your home’s value went down.

Property values within the Peru Elementary School District have dropped 14 percent in the last five years.

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