What is a tax levy?

A tax levy is a dollar amount requested by a taxing body for local property tax revenues.  Taxing bodies levy for specific dollar amounts. 

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Total equalized assessed values (EAV) is divided by the levy amount, then divided by 100 to calculate the tax rate.  Your EAV, exemptions, and property tax rate are published on your annual property tax bill.  Your property tax bill is based on two factors, the EAV of your property and the amount of money the local taxing districts request in their tax levy.

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The budget cycle of the taxing bodies is convoluted.  The tax levy should be based a taxing body's annual budget need projection.  Many taxing bodies will "balloon" their annual levy requests to a higher amount to "capture all the available revenues" in anticipation the total EAV of the properties in their district will also significantly increase.  This allows them to get, potentially, more than needed while maybe even claiming their tax levy increase will result in a tax rate decrease.  They can only receive what they requested early in the the levy cycle before the County Assessor determines the final EAV for their district that year.