District 87 plans to inch its tax levy upward this year, projecting a rosy outlook for property growth in the community.
The district is seeking a nearly $44.5 million tax levy for the 2018-19 school year, up less than 2 percent from this year.
Superintendent Barry Reilly said the tax rate will drop if the district's land values grow 2 percent, even though he admits that's a best-case scenario.
“I think that’s a little optimistic, it’s probably more likely to be more like a half-a-percent increase, and that will keep the tax rate stable,” Reilly said.
“We don’t want to miss out on the opportunity for that money to come to the school district at a time when we really could use it.”
The proposed levy would drop the tax rate slightly from $5.15 per $100 of assessed valuation, to $5.12 per $100 of assessed valuation. That would equate to a $50 drop in the tax bill for the owner of a $165,000 home, if those projections hold.
The District 87 school board plans to hold a public hearing on the levy Dec. 12.
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