Plainfield School District 202 will seek public comment on its proposed levy before a vote Dec. 16 at a District Board meeting.
The board will hold the public hearing, as required by law, at its 6:30 p.m. meeting at the District Administration Center at 15732 Howard St.
The board is expected to vote on the proposed 2019 levy during the meeting, according to a news release.
District 202 plans to ask the Will and Kendall County clerks for $201,675,896 in local property taxes, including bond and interest, through the district’s 2019 levy, which is about $4,384,570, or 2.2%, more than last year’s levy.
The tax levy is the district’s official request for its share of local property taxes.
The tax extension is the amount of local taxes the district receives from the counties it serves.
The tax extension will be calculated after the district’s final equalized assessed value is set next April.
While the proposed 2019 levy is 4.7% higher than last year’s, District 202 officials said they expect this year’s actual tax extension to only go up about 2.1% more than last year’s extension.
District officials project that its total tax rate will fall from $5.50 per $100 of equalized assessed value this year to about $5.35 per $100 of EAV thanks to rising property values and conservative budgeting, according to the release.
In addition, this will be the fifth straight year the district’s tax rate is expected to drop.
The tax rate has fallen 15% since the 2014-15 school year when it reached $6.26 per $100 of EAV.
The actual tax rate cannot be determined until after the district’s EAV is finalized early next year.
District 202 said that governments routinely request more money than is needed to ensure that they capture their full share of taxes.
This process is called a “balloon levy,” according to the release.
If governments ask for less than what they ultimately are due, they lose any funds greater than what was requested.
The state tax cap law limits the amount of new revenue the district can levy to either the Consumer Price Index or 5%, whichever is less. For the 2019 levy, the CPI will be 1.9%.
About 85%, or $172.8 million, of the total proposed levy will fund the district’s operating costs.