How Geneva schools levy would affect your tax bill

The owner of a $315,000 house in Geneva would pay about $191 more in property taxes next spring to the Geneva school district, if the district were to get all for which it asks.

That's assuming the total value of property in the district increases by an expected 1.77 percent, and that particular house also increases in value by 1.77 percent to $320,575, according to figures presented Monday night by Donna Oberg, the district's assistant superintendent for business services.

The school board adopted an estimated levy of $83.7 million, 4.4 percent more than it received in spring 2014. It will vote on the final version Dec. 8.

Board member Michael McCormick voted in favor of the levy, but said people still ask him why the district increases its request at all.

"I still don't think we are out of the woods (regarding the economy) here," he said.

The levy is filed with the Kane County Clerk in late December, and the taxes will be collected starting in May.

Oberg does not expect the district will receive the full amount. The district asks for more than it expects, a practice called balloon levying, to make sure it receives all the money possible.

The value of property, including how much new construction is added to the tax roll, won't be finalized by the county clerk until March.

The amount a tax levy for operating funds can be increased is limited by law to the increase in the Consumer Price Index or 5 percent, whichever is less. This year's CPI rate is 1.5 percent. But that cap does not apply to new construction in the year it is added.

Tax rates for some of the fund levies are also limited by law. Geneva has reached its limiting rate in the education-fund levy.

The portion of the levy collected to pay back debt is not limited.

Oberg said reports from the Batavia, Geneva and Blackberry townships' assessors indicate the district's equalized assessed valuation is on the rise, after five years of declines.