HINSDALE – The Hinsdale High School District 86 Board of Education voted 4-3 to approve a one-year freeze on property taxes at its board meeting Monday, meaning a zero-percent increase from the 2012 collected property taxes.
District 86 utilized PMA, a professional financial consultant, for many years to forecast the upcoming years via information from the current budget, as well as from market information and assumptions.
The forecast showed that a tax freeze was possible and that reserves continued to increase, according to a news release from District 86.
A recession, decreasing home values and high tax rates have all taken a toll on Illinois residents. Given the forecast surplus in 2013, a modest surplus forecast again in 2014, growing reserves and anticipated efficiency improvement, a one year zero-percent increase was deemed prudent, according to the release.
“We have the skills and resources in the district to continue down the path of educational excellence and provide a zero-percent increase to all taxpayers of District 86,” Board President Claudia Manley said. “We can create a win-win scenario in 2014 for the students and the taxpayers with efficiency gains and a reasonable approach to labor issues, which are more than 75-percent of our costs. We want programs for students to be evaluated, and then maintained or improved to suit the changing needs of our students. Dr. [Bruce] Law and his staff worked hard to challenge past practices via a thoughtful and collaborative process with the Board. “
The Board approved the tentative $72.6 million property tax request, with the detailed vote slated for its Dec. 16 meeting.
Today, the owner of a typical house worth $300,000 pays about $1,500 in taxes to the school district and would see a slight decrease or flat property tax bill in 2014, according to the release.