Huntley school district adopts tax levy increase

Huntley schools officials hope to collect roughly $1.4 million more in property taxes next year from a higher tax levy and from property taxes paid on new buildings.

The Huntley Community School District 158 school board recently approved raising the 2015 property tax levy by 0.8 percent over the previous year's extension, commensurate with the rate of inflation based on the Consumer Price Index. Taxes are due in June and September of 2016.

The increase will bring in an additional $450,000 in revenue from the levy increase alone - the owner of a $200,000 home would pay an extra $28 to the district, according to documents.

District 158 Chief Financial Officer Mark Altmayer called the increase "incredibly nominal" compared to previous years.

"(It's) one of the smallest increases that we've received in a long time," said Altmayer, adding that historically, the CPI has been around 2.4 percent on average. "We're going to use the money to really support the overall budget. Half of this property tax levy will hit my current year budget and the other half will hit my next year's budget."

Meanwhile, the district's costs for vendors and internal contracts have increased at a much higher rate than 0.8 percent, he added.

Anticipated revenue from new construction - valued at roughly $18.8 million - would amount to roughly $956,000 in additional taxes, according to documents.

The total capped extension is expected to be about $58.1 million. However, if new construction value comes in higher than the estimated $18.8 million, the district could apply a 1 percent balloon on the levy request for a total capped extension of $58.7 million, per the documents.

Altmayer said the state's budget impasse has caused much uncertainty over revenues this year. The roughly $93 million 2015-16 operating budget projects a modest surplus at year end.

Though the state is current with General State Aid payments, it is late on reimbursements for categorical expenses, such as transportation and special education, of about $6.5 million.

"We're expecting our first categorical payment in January, yet it was due Sept. 1," Altmayer said.

Officials are beginning to draft a budget for the 2016-17 school year, which will be presented to the school board in February.

"Not knowing what the state of Illinois is going to do is going to make for a very challenging fiscal year 2017 budget," Altmayer said. "The state is kind of leaving school districts somewhat high and dry. We have not been in this situation with the state in a long time. We will do what it takes to present a balanced budget. When we need to make cuts, we make cuts. The last thing we want to do is impact the classroom."