District 54 2013 levy is 1.7% higher

The Schaumburg Township Elementary District 54 school board estimates its 2013 tax levy will be $163,551,245 — 1.7 percent higher than the 2012 final extended levy. A public hearing on the estimated levy will be held 7 p.m., Nov. 21, in the board room at the Rafferty Administration Center, 524 E. Schaumburg Road in Schaumburg. The tax rate is subject to the tax cap legislation and the most District 54 can receive from existing property owners is 1.7 percent more than last year’s levy. In addition to the tax levy for programs and services, the District 54 aggregate levy usually would include money to retire a portion of the principal and interest on our bonds. The school board has elected to forgo issuing bonds to pay for upcoming capital needs, instead using accumulated reserves to pay those costs. For details, call Ric King, assistant superintendent of business services, at (847) 357-5011.