D97 board to vote on 2018 tax levy

Could approve estimated $73M levy for 2018 at Dec. 11 meeting

Share on Facebook
Share on Twitter
Print

By Michael Romain

Staff Reporter

The Oak Park Elementary Schools District 97 Board of Education is expected to vote on a 2018 estimated tax levy at a public hearing on Dec. 11. According to district data, the board is considering a 2018 estimated levy of roughly $73 million, $2 million more than the roughly $71 million levy extension approved in 2017.

The levy is a request for property tax dollars necessary to fund the district's operations. Each year's levy increase is capped by a state law that restricts how much school districts can raise in taxes.

According to the state's property tax extension law, the amount of property tax revenue a school district brings in can increase each year by between 0 percent and 5 percent of the rate of inflation, which is measured by the Consumer Price Index.

The CPI for 2018 is 2.1 percent, but the school district is asking to extend its levy by 2.95 percent in order to capture an estimated $605,000 in additional tax revenue resulting from new construction, which added at least $14 million in equalized assessed value to the village's tax base.

The actual tax levy extension won't be determined until mid-2019, when property assessments have been set.

District officials first presented the proposed levy to the District 97 school board in October. Paul Starck-King, the district's assistant superintendent for finance and operations, said then that a range of variables could affect the district's upcoming budget.

Those uncertainties include a proposed two-year property tax freeze that state lawmakers have been flirting with, fluctuations in the district's bond rating, changes in enrollment and the state's new school funding formula.

CONTACT: michael@oakpark.com    

Reader Comments

4 Comments - Add Your Comment

Note: This page requires you to login with Facebook to comment.

Comment Policy

Dori Bernstein  

Posted: December 8th, 2018 11:24 AM

We can't be surprised the Board wants the maximum dollars they can get out of us. The Board members all ran on "no expense is too great" platforms. If we want to control the costs we have to elect Board members that understand finances and are willing to make the hard decisions. The community cannot afford for everyone to have everything they want all of the time.

Robert Zeh  

Posted: December 8th, 2018 7:42 AM

The only way the high rises will lower property taxes is if the taxing bodies don't increase their levies to match. So much for that happening with D97.

Neal Buer  

Posted: December 7th, 2018 8:48 AM

They just ask for the maximum allowed by law. The BOE does not provide any oversight.

Waldhorn Fafner  

Posted: December 6th, 2018 11:54 PM

Where is the oversight on District 97? My understanding was that their last voted increase actually gave them more than needed or asked for. So what happen to all that extra money?

Facebook Connect

Answer Book 2018

To view the full print edition of the Wednesday Journal 2018 Answer Book, please click here.

Quick Links

Sign-up to get the latest news updates for Oak Park and River Forest.


            
SubscribeClassified
MultimediaContact us
Submit Letter To The Editor
Place a Classified Ad

Classified Ad