Dist. 300 guessing big on tax levy

The Community Unit District 300 school board has approved a resolution tentatively estimating its 2010 tax levy at $204.2 million, a 36-percent increase over the previous year.

But school board members and district administrators said the figure is inflated to ensure the district receives all property taxes to which it is entitled. “It is a formality because we don't know all of the information,” board President Joe Stevens said. “The number is much higher than we anticipate.”

In a memo to the board, Chief Financial Officer Cheryl Crates noted that the levy is dependent upon the equalized assessed value of properties, which counties do not release until late spring. However, Crates said, the school district needs to make its property tax request in December.

“If we underestimate the (equalized assessed value) during the levy process, we will not only receive less money than we are due this year, but every year from now on,” Crates said in the memo. “We have overestimated our expense by one-third to ensure we have secured all taxes available.”

Estimates show the district's expenses will exceed revenues by $7.8 million next year.

A public hearing on the tax levy is scheduled for 7:30 p.m., Monday Dec. 13 at the District 300 Administration Building, 300 Cleveland Ave., Carpentersville.