Property Tax Levy Hike Adopted By Glencoe District 35 Board

GLENCOE, IL — The Glencoe District 35 Board of Education Thursday approved a 4.51 percent increase to the 2017 property tax levy. The increase means that the district could take advantage of up to $25 million in additional growth from potential increases to the property tax base. However, according to the district, average growth over the past six years has been $6.2 million annually.

Director of Finance and Operations Jason Edelheit told the board the levy allows for significant new growth, but it only increases existing property taxes by the 2.1 percent tax cap level for operational purposes. (State law limits tax increases to no larger than the rate of inflation when it's under 5 percent.)

Final figures on actual growth in property value in the district will not be available until next year, but districts have to set property tax levies by the middle of December in order to allow the county to collect them.

The $27.77 million levy includes $1.67 million in debt services, according to the district. It was approved unanimously by the board. One attendee suggested the rate be held flat during public comment.

Edelheit estimated that the likely increase would be about $210 for every $10,000 paid in property taxes, according to Pioneer Press. He said about a third of Glencoe taxpayers' property tax bills go to District 35.

_{Top photo: Glencoe Central School, District 35 | Google Street View}