DOWNERS GROVE – The Downers Grove School District 58 Board approved its tentative property tax levy Oct. 15, requesting an increase of 1.7 percent over last year, plus any new construction.
The school district won't know the amount of new construction until the spring, but the tentative levy estimates an increase of 1 percent. Controller Jim Popernik said that new construction will probably be closer to a half percent when numbers come in this spring.
The state caps school district's property tax levy increases by the prior year's consumer price index, or 5 percent, whichever is lower, plus any new construction. CPI is essentially the inflation rate. Last year it was 1.7 percent.
The total levy, if counting a 1 percent rise in new construction, plus the 1.7 CPI increase, would come to $51,826,874. That's a 2.7 percent increase over last year's levy of $50,427,316.
"A 2.7 percent levy increase just kind of maintains what we already have," Popernik said. "We are pretty close to running a balanced budget every year, so that levy increase is designed to keep all of our programs in place, and not make any radical changes."
A hearing is scheduled for Nov. 12, and the board would officially adopt the levy Dec. 9.