District 211 levy would mean small tax increase, eliminate debt

Palatine-Schaumburg High School District 211 administrators' proposed property tax levy would lead to a minuscule tax hike for residents while also being the last for the foreseeable future to include debt payments.

Administrators said it's likely been decades since the district has been debt-free.

"It's because of prudent planning that we've been able to position ourselves for that opportunity," Superintendent Dan Cates said.

The recommended 0.3 percent levy increase is based on a combination of the rate of inflation, new development and debt payment - but lowered by paying the last $3.2 million of the district's debt out of reserve funds. Since 2007, the District 211 has kept its levy lower by paying down $33.5 million of debt from reserves.

For the owner of a $250,000 home, the proposed levy would mean a tax increase of $6.63 over last year.

The levy is projected to generate $217.2 million - about 85 percent of the revenue needed for the following school year.

Though future facilities improvements are planned for the district, they're expected to be paid for from reserves and savings available at the time, Cates said.

Under that assumption, it's believed only changing economic factors - rather than unexpectedly costly projects - could throw the district back into debt, he added. But unless that happens, future levies should be based on only the rate of inflation and new development in the district, Controller and Treasurer Barb Peterson said.

Administrators presented their recommended levy Wednesday to the board of education's budget and finance committee meeting. The full board will hear the presentation Oct. 20.

On Nov. 10, the board will vote on whether to publish the administration's recommended levy or go with a different option. The final vote to adopt a levy is expected Dec. 8.