District 53 adopts $9 million tax levy

Published: Wednesday, Dec. 18, 2013 2:24 p.m. CDT • Updated: Wednesday, Dec. 18, 2013 2:25 p.m. CDT

OAK BROOK – The District 53 Board of Education adopted a $9.43 million tax levy at its Dec. 9 Board of Education meeting, which will fund the 2014-15 budget, according to the board report.

Business manager Sandra Martin said that the district requested a 4.97 percent increase over last year, but will see only a 2.4 percent increase in revenue because of the state tax cap, according to the report.

The cap is limited by two factors – the consumer price index (CPI) and new construction in the district – both of which were at low levels last year. The CPI-U equaled 1.7 percent last year, one of the lowest over 10 years. New construction in 2012 was $3.2 million, down from $9 million the prior year, according to the report.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Suburban Life Media.

More News

Watch Now

Player embeded on all SLM instances for analytics purposes.

Hinsdale police seek to identify burglary suspect

More videos »
 

Reader Poll

What kind of business do you most frequent in your town?
Restaurants
Bars
Retail (shopping)
Service (salon, spa)

COOKIES:
ZONE:
LAT:
LNG:
CAT:
CHAN:
CITY: