Indian Prairie Unit District 204 school board approves $327 million property tax levy

The Indian Prairie Unit District 204 school board unanimously approved a $327 million property tax levy for 2021, representing a $7 million increase from 2020.

Homeowners will pay an increased amount on future property tax bills - 1.4% more based on an amount tied to the consumer price index - that will equate to an average increase of $74 for the owner of a $300,000 home.

Matt Shipley, District 204's chief school business official, said at Monday's board meeting that because of increased property values in the district, the tax rate will decrease for most homeowners in DuPage and Will counties. The equalized assessed value of homes increased last year by 2% in DuPage and 1.6% in Will.

The additional $7 million in the levy is a 3 percent increase from 2020, but Shipley said the full amount won't be passed on to taxpayers because of the CPI cap.

"The tax cap legislation will adjust this down," Shipley said.

Of the $7 million increase, $3.9 million will come from the increase in property taxes and $3.1 million from new property within the district boundaries.

District 204, the state's fourth-largest school district, has more than 26,000 students in 33 schools in Aurora, Bolingbrook, Naperville and Plainfield.

Shipley said the $327 million levy is based on projections for the 2023 fiscal year. While $299 million will go toward the operating budget - including for educational purposes, maintenance, transportation and special education - $28 million will go toward bonds and interest.

According to Shipley, 7% of district revenue comes from property taxes.