Wednesday, December 12, 2012
The $75 million request represents more than a 4 percent increase over the current levy
Concerns expressed by several district residents and two board members at Monday night’s Hinsdale Township High School District 86 Board of Education did not convince a majority of the board to stop a tax levy increase. By a 5-2 vote, the board gave final approval to a $75.5 million levy request, which includes $73.1 million for capped funds like education and operations, a 4.5 percent increase over the 2011 tax levy of $69.9 million. Two dozen spectators packed the Black and Gold Room at Hinsdale South High School for the meeting, with the majority appearing to be present for the tax levy discussion. Several addressed the board on the topic during the public comments section at the beginning of the meeting. George Logan said the levy …
Monday, November 26, 2012
The amount the district actually gets permission to collect next spring will likely be significantly lower once the district's total EAV and new construction numbers are known.
The District 86 Board of Education approved a tentative tax levy last week that would aim to raise as much revenue via property taxes as state law allows. The board voted 5-2 to affirm the administration’s recommendation to request a $75.5 million “balloon levy” to be collected from its taxpayers, $73.1 million of which would go toward its capped funds like education and operations, despite the fact that such an increase accounts for $17 million more in new construction than the district expects, business manager Jeff Eagan said. The $73.1 million for capped funds is a 4.5 percent increase over last year’s tax extension. According to state law, the extension of the 2012 levy over the 2011 levy is limited by the 2011 consumer price index…
Thursday, March 15, 2012
The 2011 levy extension is projected to be an increase of 2.6 percent over the 2010 levy.
After several months of discussion, District 181 board members voted Monday night at Elm School to finalize a maximum 2011 tax levy that will likely be 2.6 percent larger than the 2010 levy. In December, the board voted 5-2 in favor of a “balloon levy” which OK'd an intentionally inflated extension of 3.6 percent. Such an inflation is recommended because factors that determine how much a taxing body can levy in the spring, including total equalized assessed valuation (EAV) and new construction, are not known at that time. Some of the air in the balloon will be let out when Whalen receives the district’s actual 2011 EAV and new construction numbers in late March. After those numbers are received, the district has seven days to finalize …
Tuesday, February 28, 2012
The board will decide in March whether or not it wants to maintain the maximum levy it initially approved in December.
The District 181 Board of Education Monday night decided to delay voting on a measure maintaining the maximum, "balloon" levy initially approved in December that could increase the district’s portion of residents’ tax bills by as much as 3.6 percent over last year, but will more likely result in an increase around 2.6 percent. The 2.6 percent rate increase would result in about $1.3 million in new revenue for the district, assistant superintendent for business Dr. Troy Whalen said. The 2011 levy funds will be used for the latter portion of the current 2011-12 school year and the first portion of the 2012-13 school year. The 2011 tax rate—which can be extended over 2010's rate based on consumer price index (CPI), equalized assessed …
Tuesday, December 20, 2011
Also Monday, the Village Board voted to pass on a water-rate hike to residents and backed the plan to put a home rule referendum on the ballot in March instead of November.
Clarendon Hills residents will see a small increase in the village’s portion of their property tax bill for fiscal year 2013 after the Village Board unanimously passed the 2011 levy, the third straight levy that has increased the village’s property tax rate as home values fall. Under Monday’s “balloon levy,” which village finance director Peg Hartnett said will likely come down a slightly smaller amount when it’s finalized in the spring, homeowners in Clarendon Hills would pay approximately 64 cents to the village for every $100 of their home’s equalized assessed value (EAV). That’s up about 5 cents from the 2010 rate of approximately 59 cents per $100. According to village staff, such a raise would equate to a $93 increase for the average…
Tuesday, December 13, 2011
The inflated calculation ensures the district's ability to get every possible dollar when the county finalizes the levy in March.
The District 181 Board of Education approved a 2011 tax levy that would increase the district’s revenue by $1.8 million (3.6 percent) over the 2010 levy, an intentionally high "balloon levy" that will likely come down when the district's limiting rate is set by DuPage County this spring, assistant superintendant for business Dr. Troy Whalen said. The board passed the $53.3 million levy by a 5-2 vote at its regular business meeting Monday night at Elm School. Board members Glenn Yaeger and Brendan Heneghan voted against it. According to state law, the extension of the 2011 levy over the 2010 levy is limited by the 2010 consumer price index (CPI) of 1.5 percent, but can exceed that percentage based on the equalized assessed valuation (EAV) …
Monday, December 12, 2011
Monday night is full of public meetings; here's what you need to know for each one.
The District 86 Board of Education, the District 181 Board of Education, and the Village of Hinsdale Board of Trustees all meet Monday night. Below are quick previews of each so you can choose which to attend. District 86 Board of Education (7:30 p.m. at Hinsdale South High School) The board will vote on a resolution that, if passed, would issue $17,960,000 in bonds for Master Facilities Plan (MFP) projects, approximately $13 million of which would go towards the installation of air conditioning in classrooms at Hinsdale Central and Hinsdale South high schools that are currently not air-conditioned. At the board's Nov. 21 meeting, a majority of members supported moving forward with the first steps of MFP, which was adopted in 2010. In …
Thursday, December 1, 2011
The district's financial consultant presented long-term projections based on a max levy versus a flat levy in 2011.
Attendees at the District 181 Board of Education meeting Monday night at Elm School might have gotten a preview of the board's final discussion tax levy to be set in December. Board members were presented four levy scenarios by senior financial advisor Michael Frances of PMA Financial Network, the district's financial consultant, that would lead the district to different long-term fiscal conditions. If the max levy is issued in December, the district’s local revenue would increase by 2.72 percent from Fiscal Year (FY) 2012 to FY 2013, according to Frances' presentation. After all expenses, the district would have a surplus at the end of each fiscal year if max levies were continuously collected until FY 2017, when it would run a $356,098 …
Rick Cazzato
6:35 pm on Wednesday, December 12, 2012
S. McCarthy, as a taxpayer and educator, I agree with you regarding District 86. I moved in the district so my children can attend the schools. The teachers in District 86 have my full support. more ›