District 153 tax levy up 3%

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District 153 tax levy up 3%

November 29, 2020 - 20:31
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The District 153 school board approved a $15.46 million 2020 levy at its Nov. 23 meeting. It reflects a 3% increase over the previous year.

In a report to the board, John Gibson, chief school business manager, said the levy stays within the 2.3% Consumer Price Index increase. It maximizes the tax rates for all budget funds, such as the education, operations and maintenance, special education and transportation. It also increases the Bond & Interest Fund by 2.64% because it is not affected by state property tax caps. 

The district should see an increase of $460,000. Gibson estimates the tax rate will be $4.47 per $100 assessed valuation.

Gibson also takes into account an estimated $2 million in new property gains. In addition, the Cook County Assessor’s Office reassessed property in the South Suburbs this year and Gibson estimated the district’s Equalized Assessed Valuation (EAV) will increase 13.66%. He used a projected EAV of $345.31 million in his calculations.

This proposed levy now goes to the Cook County Clerk’s Office where the final numbers will be set. Gibson said for 2019 District 153 requested a total property tax levy of $15.02 million, excluding the Bond & Interest Fund, but when the county set the levy, it was reduced to $15 million.