By Sam Thomas
BLOOMINGTON – The District 87 school board will likely vote in December on a proposed $44,054,474 property tax levy for Fiscal Year 2018, a 2.17 percent increase from last year’s extension.
The board voted unanimously at their Wednesday night meeting to hold a public hearing on the levy at their Dec. 14 meeting.
The Equalized Assessed Value, or EAV, in the district is estimated to increase 2.5 percent in 2016, reversing a downward trend of sluggish increases in the last few years.
“We’re hoping the estimate comes to fruition, and then becomes a trend,” Reilly said. “I hope things like seeing an increase in EAV will lead to more revenue coming in at the local level.”
An owner of a $150,000 home would pay approximately $51 more on their tax bill according to figures provided by the district’s chief financial and legal officer David Wood.
Prior to a presentation on the levy from Wood, an audit report was given that showed the district is in good financial standing.
“You heard in the audit report that this district, in terms of how it runs its finances, is run extremely well,” Reilly said. “We operate in a way that is responsible to the taxpayers,”
Reilly explained the District 87 relies heavily on local property taxes, as opposed to state aid.
“That’s not to say that state revenues aren’t important, because they very much are,” he said. “However, the local money is the biggest chunk of money that [the district] gets.”
The board will likely vote on the proposed levy at their Dec. 14 meeting at 6:30 p.m. inside the Educational Services Center.
Sam Thomas can be reached at Sam@WJBC.com
