Grayslake District 46 budget hearing:

Grayslake Elementary District 46 board members will host a budget hearing for the public at 6:30 p.m. Wednesday. It’ll be at Meadowview School, 291 Lexington Lane, Grayslake. District 46 officials have endorsed seeking a way to restructure debt to minimize the potential bite on taxpayers because of a lack of construction growth and declining property values. Chief School Business Official Todd Covault said the district isn’t experiencing 5 percent annual construction growth, as had been projected about six years ago. To reduce the overall tax rate, Covault said, the school board should consider restructuring debt repayments that were based on an escalating equalized assessed valuation that hasn’t materialized. Tax rates for the debt repayment portion of bills are projected to be higher than initially calculated on what Covault said is similar to a 20-year mortgage.