The Examiner U-46 News FeedTrend of tax levy hikes continues for District U-46 By Seth Hancock
Without discussion, the Board of Education in School District U-46 voted ununanimously (7-0) to approve a $373.8 million property tax levy at its meeting on Monday, Dec. 4.
As usual, it is the largest levy increase allowed under the law. Approved were a resolution and a certificate of tax levy.
The estimated tax rate is 5.1632. The district estimates sharp rises on individual homeowners tax bills on the U-46 portion for DuPage and Kane counties but a drop for Cook County taxpayers.
Using a home valued at $200,000 in the 2020 tax year, a Kane County taxpayer would pay 16.2 percent more ($3,902 to $4,535) and 11.6 percent increase ($3,655 to $4,077) in DuPage County. The Cook County home would pay $3,265, down 6 percent or $207 from $3,472.
The corporate and special purpose levy rise 8 percent from the 2022 extension of $315.8 million to $341 million and debt service from $32.1 million last year to $32.8 million.
The corporate and special purpose levy includes education ($223.6 million), operations and maintenance ($45.9 million), special education ($40.6 million), transportation ($10.3 million), tort immunity ($7.9 million), fire prevention and safety ($5.7 million), working cash ($3.2 million), Social Security ($2.2 million) and Illinois Municipal Retirement Fund ($1.7 million).
The $341 million corporate and special purpose levy is a defensive levy with the district expecting $339 million, a 7.3 percent increase. The defensive levy is “to insure receipt of all property tax dollars to which the District is entitled,” the determination of tax levy presented on Nov. 6 stated.
“In order to have the maximum tax extensions, levy amounts must be high enough to reach the maximum amounts to be calculated in accordance with the ‘Tax Cap’ legislation. Since the equalized assessed valuation (EAV) of property and new construction numbers are unknown, it is a common practice to establish a defensive levy,” the proposal stated.
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