Post by title1parent on Nov 11, 2009 6:12:20 GMT -5
www.suburbanchicagonews.com/napervillesun/news/1876052,District-204-tax-levy_NA111009.article
Dist. 204 projects slight tax increase
November 11, 2009
By KATHY CICHON kcichon@scn1.com
Taxpayers in Indian Prairie District 204 will most likely see a slight increase in property taxes for this year — one that is less than the typical fast food meal.
"Essentially there isn't much change in the tax rate from 2008 to 2009, based on our best estimate," said Dave Holm, assistant superintendent for business.
For the 2009 tax levy year, the property tax cap will be using the consumer price index, which is 1/10 of 1 percent, Holm said.
"One-tenth of 1 percent is about as close to zero as you can get," Holm said. "... It's an almost even amount from the previous year."
On Monday the District 204 Board of Education was presented with the tentative tax rate for 2009, which is 4.4840, a slight decrease from the 2008 tax rate of 4.4858. That means a home purchased in 2006 for $300,000 — now assessed at $366,000 — will seen an increase of about $4.60 from the previous year, Holm said.
Along with reviewing the tentative tax rate, officials also set the tentative tax levy for 2009.
"It actually went down from the previous year by $1.5 million," Holm said.
Last year the district requested slightly more than $248 million. This year the district is asking to collect $246.6 million. Of that amount, a little more than $219 million is earmarked for operating expenses, while nearly $27.5 million is requested for bond and interest payments.
The levy, Holm said, was mainly set at that amount "in order to make sure the new property, as it goes on line, that we continue to get our fair share."
While there isn't as much new growth as in previous years, most new property brings the possibility of new students, and "it's important we have additional revenue to cover that," Holm said.
The financial forecast for the district in the coming year shows it experiencing a significant shortfall.
"We have definite challenges for the 2011 school year," Holm said. "For fiscal year 2011 we have a projected roughly $9 million deficit. It's a revenue issue."
The district is in the process of working to close that gap, he said, and will be presenting that information in the next month or so.
A public hearing will be held on the 2009 tax levy at 7:05 p.m. Dec. 7 at the Crouse Education Center, 780 Shoreline Drive, Aurora. Later that evening, the board will vote to adopt the levy during its regular meeting.
Dist. 204 projects slight tax increase
November 11, 2009
By KATHY CICHON kcichon@scn1.com
Taxpayers in Indian Prairie District 204 will most likely see a slight increase in property taxes for this year — one that is less than the typical fast food meal.
"Essentially there isn't much change in the tax rate from 2008 to 2009, based on our best estimate," said Dave Holm, assistant superintendent for business.
For the 2009 tax levy year, the property tax cap will be using the consumer price index, which is 1/10 of 1 percent, Holm said.
"One-tenth of 1 percent is about as close to zero as you can get," Holm said. "... It's an almost even amount from the previous year."
On Monday the District 204 Board of Education was presented with the tentative tax rate for 2009, which is 4.4840, a slight decrease from the 2008 tax rate of 4.4858. That means a home purchased in 2006 for $300,000 — now assessed at $366,000 — will seen an increase of about $4.60 from the previous year, Holm said.
Along with reviewing the tentative tax rate, officials also set the tentative tax levy for 2009.
"It actually went down from the previous year by $1.5 million," Holm said.
Last year the district requested slightly more than $248 million. This year the district is asking to collect $246.6 million. Of that amount, a little more than $219 million is earmarked for operating expenses, while nearly $27.5 million is requested for bond and interest payments.
The levy, Holm said, was mainly set at that amount "in order to make sure the new property, as it goes on line, that we continue to get our fair share."
While there isn't as much new growth as in previous years, most new property brings the possibility of new students, and "it's important we have additional revenue to cover that," Holm said.
The financial forecast for the district in the coming year shows it experiencing a significant shortfall.
"We have definite challenges for the 2011 school year," Holm said. "For fiscal year 2011 we have a projected roughly $9 million deficit. It's a revenue issue."
The district is in the process of working to close that gap, he said, and will be presenting that information in the next month or so.
A public hearing will be held on the 2009 tax levy at 7:05 p.m. Dec. 7 at the Crouse Education Center, 780 Shoreline Drive, Aurora. Later that evening, the board will vote to adopt the levy during its regular meeting.