Glenbard High School District 87 officials are seeking a 3.8 percent, or about $4.2 million, property tax levy increase, but expect the actual increase to be much closer to the consumer price index of 1.7 percent.
The board on Monday voted unanimously to move forward with the proposed levy.
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By law, tax levy requests are limited each year to the sum of the consumer price index and the percentage of new construction growth within the district.
School districts routinely request increases larger than the Consumer Price Index to make sure they capture any potential property growth. Traditionally, new construction contributes about 1 percent to the district treasury every year. If the district's levy request is lower than what the county calculates, the district may collect only the amount requested.
"That (3.8 percent) is the submission, but we know most likely the levy increase will be 2.1 percent," said Chris McClain, the district's assistant superintendent for business services. "As everybody knows people can levy whatever they want but at the end of the day the county determines based on tax cap law. We're only going to receive what we receive."
At the desired 3.8 percent increase, the district's 2013 projected levy would be $115.8 million. Based on the calculation of 1.7 percent CPI from calendar year 2012 and estimated new construction amount of $20 million, the district projects a property tax levy increase of 2.1 percent, or close to $2.4 million, bringing the total levy to nearly $113.9 million.
The owner of a median value $265,000 home would see the District 87 portion of the tax bill increase by about $35 if the district is limited to the 1.7 percent increase.