The Examiner U-46 News FeedTax abatement proposal again set for U-46 vote By Seth Hancock
The Board of Education in School District U-46 is set to vote on a property tax abatement resolution at its upcoming meeting on Monday, Feb. 22. The measure was presented at a Feb. 8 meeting which was electronic due to COVID-19 regulations.
The plan is to abate a portion of the 2020 debt service levy which totals $66 million. The planned abatement amount is $9.6 million, the same as last year.
“Each county looks at the debt that we have outstanding and what that debt payment is, and they automatically levy for that debt payment without us having to ask for that money,” said Jeff King, deputy superintendent of operations. “What this does instead is provide some relief directly to the taxpayer in basically a reduction in the amount that will be automatically levied by the amount that we’re abating.”
King added: “It comes out of our operating budget instead of the debt service fund.”
This would be the sixth straight year the district has used the abatement method. District officials have admitted in the past that the measure effectively kicks the can down the road to taxpayers to preserve tax increases for the future.
The district annually raises its levy by the maximum amount allowed under the law.
Two expenditure votes will also take place at the next meeting totaling $434,278.
Included is a $308,000 bid, from the operations and maintenance fund if approved, to Oak Brook Mechanical Services, Inc. for an HVAC replacement project at the district’s business services and grounds department building.
Costing $126,278 (education fund) is a contract renewal with Tyler Technologies for U-46’s MUNIS software annual support and updated licensing. The software is for human resources, finance and payroll.
|