$195 Million Tax Levy Request OKed By Plainfield School Board

PLAINFIELD, IL — The District 202 Board of Education on Monday night approved a $195 million tax levy for 2017 — about $590,000 more than last year's levy. But despite the larger dollar amount, officials project the district's tax rate will fall, from $5.89 per $100 of equalized assessed value (EAV) this year to $5.64 per $100 of EAV next year "thanks to rising property values, and conservative budgeting," the district said in a news release.

The actual tax rate won't be set until after the district's EAV is finalized early next year.

The board voted in favor of approving the levy following a public hearing on Monday. The vote means the district will ask the Will and Kendall county clerks for a total of $195,031,960 in property taxes.

The approved 2017 levy request is about 5.7 percent higher than the 2016 extension of $184,486,890 (including bond and interest). However, the 2017 levy is only about $590,000 more than the 2016 levy of $194.4 million. Although the 2017 levy is 5.7 percent higher than last year’s extension, district officials expect this year’s actual tax extension to be only about 1.3 percent higher than last year’s extension.

"It is normal for governments to request significantly more money than is actually needed to ensure that they get their full share of taxes," the district said in a news release. "This process is called a 'balloon levy.' If governments ask for less than what they ultimately are due, they lose any funds greater than what is requested."

About $165.5 million, or about 85 percent of the total amount of the 2017 levy, will go to the district's operating funds: Education, Operations and Maintenance, Transportation, Working Cash, Illinois Municipal Employees Retirement Fund, Special Education and Tort.

File photo/District 202