Arlington Hts. District 25 raises levy

Arlington Heights Elementary District 25 expects to collect $58.7 million from property taxes next year, an increase of 4.2 percent over this year, under a levy approved by the district's school board.

Extra funds will go toward expenses caused by the state being so late with payments, planned roofing projects, and personnel raises tied to the Consumer Price Index, Stacey Mallek, assistant superintendent of business, said Monday.

The state also cut the amount paid districts for school busing by almost half, said Mallek.

With assessed values in the district expected to increase as a result of new construction, the board of education raised its levy in its capped funds by 5.02 percent, expecting to actually receive about 4.65 percent. The overall increase, including bonds and interest funds, is expected to be 4.2 percent.

New property, including Mariano's Fresh Market, and the expiration of Arlington Heights downtown TIF 2 are expected to add 1.9 percent — or $42.6 million — in equalized assessed valuation, according to a report issued by Mallek.

The economy, declining housing values and the difficulty knowing which developments will enter the tax rolls mean exact new growth cannot be predicted, the report said. The school district will levy for new growth plus 2.7 percent for inflation, as allowed under state law.

“Levying for an amount of new growth, which does not materialize, does not cost the taxpayer more, as the district can only receive the revenue if sufficient new growth exists,” the report said.

State tax cap legislation ties the amount a levy can increase on owners of existing property to the CPI, which rose 2.7 percent in 2009, up from .1 percent in 2008. That represents $1.4 million in additional tax revenue for the district.

The total tax rate is expected to be $2.57 per $100 of equalized assessed value, an increase of six cents over last year.