The Elmhurst Community Unit School District 205 board approved a tax levy for the next budget cycle at Tuesday, Nov. 17, night's meeting.
The levy requests more than $4 million, but school board officials expect to only receive about $1.2 million from the levy, a 1.38 percent increase that is the lowest since 2002. In total, the district will request about $90.9 million, but anticipates receiving approximately $88.1 million.
According to a news release, $829,158 of the money received through the levy will be regular tax dollars, while $373,546 will be in additional bond money, not subject to the tax cap.
Much of the levy is tied to law dictating that school district tax increases are capped to the lesser between consumer price index and five percent. This year, the CPI is 0.1 percent.
“With a CPI of 0.1 percent, and new growth significantly less than in past years, we are facing a minimal increase in revenue at the end of this fiscal year and the beginning of next,” Superintendent Lynn Krizic said in a news release. “As costs continue to rise and revenue sources decrease, the district must commit to even greater financial constraints in an effort to provide the level of education our community expects.”
