District 128 Board of Education Approves $4 Million Tax Abatement for 2015

The Community High School District 128 Board of Education has voted to abate, or not collect, $4 million (4.97%) in property taxes this year. Following months of financial analysis and discussion, the Board voted to approve the 2015 abatement at its Nov. 16 meeting.

Over the five-year period from 2011-2015, the D128 Board has abated, or not collected, $18.6 million less in property taxes than allowed under Illinois Property Tax Extension Limitation Legislation (PTELL), which includes Bond and Interest abatements of $15.8 million and a $2.8 million reduction in the Operating Fund Levy in 2014. Like all public school districts, D128 receives the largest amount of its operating revenue through property taxes. D128 Superintendent Prentiss Lea stated, “We are not aware of any other Illinois property taxing body that has abated, or not collected, as much property tax over a similar period as the D128 Board has abated.”

The D128 Board, administration and staff are thankful for the tremendous local support of the district and its two world-class high schools and also realize the burden of property tax on constituents. D128 Board President Pat Groody noted, “Balancing the needs of all of our constituents is at the heart of everything we do. The generous support provided by our taxpayers has been key to the success of building the strong programs we offer in D128. Using reserves in place of incremental tax revenue to pay down our debt provides some measure of tax relief and is the prudent thing to do in this economic environment.”