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.