On November 12, the Glenbrook High School District 225 Board of Education approved its levy request for 2018 property taxes to support district operations in the amount of $109,945,711. This levy request represents an increase of 4.4 percent, over last year’s property tax revenue. The percentage increase is based on a 2.1 percent increase for inflation as determined by the Consumer Price Index (CPI), along with a 2.3 percent estimate to capture new property growth within the tax base.
“The estimated levy allows the district to meet annual expenses, as well as potential enrollment needs resulting from new property growth,” said Assistant Superintendent for Business Services Dr. R.J. Gravel.
Under current law, a school district’s property tax levy request is limited to a combination of the current rate of inflation or five percent, whichever is less, as applied to the prior year’s property tax revenue, and revenue resulting from new property growth within the tax base. It is common for school districts to approve a levy request that is more than they will actually receive because the value of new property is unknown at the time the levy request must be filed. Under state law, school districts have only one chance to capture revenue from new property growth. The largest anticipated property growth for District 225 will be in 2022 when new property for The Glen is introduced to the tax base. During levy year 2022, it is estimated that the district will need to advertise approximately 12 to 15 percent to capture the full value of new property growth in The Glen.
“Many factors contribute to how a property owner’s taxes are determined, so it’s important that taxpayers not equate the levy request percentage with an assumed percentage increase in their individual property taxes,” said Gravel.
Even though a Truth in Taxation hearing is not required because the levy amount requested is less than five percent, the District 225 Board of Education has elected to do so to provide an opportunity for community input on the levy request. The hearing will be held during the Board’s regularly scheduled meeting on Monday, December 10, at 7 p.m. in the Public Meeting Room located at 3801 W. Lake Avenue in Glenview.
“The action taken by the Board allows the district to maintain generational equity for our families and residents who benefit from high educational standards and high property values, respectively,” said Board President Skip Shein.
The estimated tax levy and answers to frequently asked questions are available on the District website.