The Examiner U-46 News Feed

U-46 formally approves property tax levy amount

By Seth Hancock
  With no discussion, the Board of Education in School District U-46 formally adopted the largest tax levy allowed under the law at its meeting on Monday, Dec. 12.
  The board voted 6-0, board member Veronica Noland was absent, on the certificate of tax levy and an accompanying resolution setting the total tax levy, including the corporate/special purpose levy and debt service levy, at $349.3 million. That’s a 5.6 percent increase from last year’s extension of $330.7 million.
  The certificate of levy details where the levy will go, excluding the debt service levy. It shows $205.5 million for educational purposes, $42.6 million for operations and maintenance, $41.6 million for special education, $9.5 million for transportation, $6.7 million for tort immunity, $5.3 million for fire prevention and safety, $3.4 million for Social Security and $2.6 million for municipal retirement.
  The board previously approved a determination of tax levy and an accompanying resolution in November which is required to be approved before the tax levy is formally adopted.
  The district is limited to a 5 percent increase without a voter referendum, but the 5.6 percent increase in the levy is a defensive levy with the district expecting to receive $345.3 million.
  The defensive levy is used because U-46 believes the “District is entitled,” the determination states, to every dollar it legally can obtain from taxpayers.
  “EAV (equalized assessed valuation) is not known until approximately April for Kane and DuPage [counties] and July for Cook,” the determination states. “Since levies are filed by the last Tuesday in December of the previous year, it is still necessary to defensive levy to insure receipt of all property tax dollars to which the District is entitled.”
  The defensive levy effects the corporate/special use levy which is set to rise 6.3 percent from the 2021 extension, from $298.3 million to $317.2 million. However, the district is expecting to receive $313.2 million from that levy, a 5 percent increase.
  The debt service levy is set to decrease 1.2 percent, from $32.4 million to $32.1 million.