District 87 seeks drop in tax rate

Posted on October 25, 2017
District 87’s chief financial officer David Wood presented the proposed levy during Monday night’s school board meeting. (Photo by Patrick Baron/WJBC)

By Patrick Baron/Howard Packowitz

BLOOMINGTON – District 87 schools in Bloomington would collect almost $44.5 million in property taxes next fiscal year, a one-percent increase from the current fiscal year.

The district’s chief financial officer David Wood said the owner of a $150,000 home would pay about $10 less than this year as the tax rate would drop to $5.12 per $100 equalized assessed valuation.

The levy is up to pay for rising salaries and other expenses. Superintendent Barry Reilly said the district is working to control costs.

“We plan for the worst and we hope for the best, so we will do everything we can to reign in our expenses over the course of the year,” Reilly explained. “I’m confident in the way we budget conservatively that we will be able to do some of that.”

Property values are projected to rise about two percent, and property taxes cover about 60 percent of District 87’s budget.

The school board scheduled a public hearing and final vote on the tax levy for Dec. 13.

Patrick Baron can be reached at [email protected].

Howard Packowitz can be reached at howard,[email protected].

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