OAK BROOK — Butler School District 53 has the lowest tax rates of school districts in Illinois based on the tax levy that was reviewed by the Board of Education at its meeting April 8, according to a news release.
The board kept allocations for the 2012 levy extension as originally approved. The district reviews and adjusts levels within funds yearly in order to maximize allocations and ensure that each fund has adequate amounts for expenditures.
This year’s levy will bring in a total of nearly $9 million, about $298,000 or 3.4 percent more than last year. The amount is lower than previous projections and represents an 8.95 percent decline in overall wealth in the tax base, the news release stated.
Revenues from new construction in the area were considerably lower than last year, providing only $36,000 in revenues for the district compared to $89,000 generated last year.
With a reduction in the equalized assessed value again this year, the tax rate will increase slightly (including bond and interest) and remains the lowest educational tax rate in the state, Superintendent Sandra Martin said.