District 54 estimates 2.1 percent tax levy increase

Schaumburg Township Elementary District 54 officials are estimating a 2.1 percent increase in the 2017 property tax levy over last year's.

School board members have set the estimated levy at $175.5 million.

The estimated increase is based on a combination of the rate of inflation and an allowance for new growth in the district's property tax base.

Last year's growth from new construction was 0.37 percent of the prior year's equalized assessed value, district officials said.

A public hearing on the levy is scheduled just prior to the vote on its adoption at the school board meeting at 7 p.m. Thursday, Nov. 16, at the District 54 administration building, 524 E. Schaumburg Road in Schaumburg.

A levy must be approved before the end of December to provide property tax revenue for the 2018-19 budget year.