On November 13, the Glenbrook High School District 225 Board of Education approved the estimated property tax levy for 2017 in the amount of $106,256,303. This amount represents an increase of 4.4 percent, over last year’s extension. The 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 to educate our students, as well as additional needs due to growth in student enrollment,” said Assistant Superintendent for Business Services Dr. R.J. Gravel.
Under the Property Tax Extension Limitation Law (PTELL), Cook County school districts are limited to an increase in their property tax extension equal to the current rate of inflation as measured by the CPI (2.1 percent) or five percent, whichever is less. In addition, school districts are able to secure additional revenue from new property growth introduced to the tax base. School districts, including District 225, commonly approve a levy that is more than they will actually receive because at the time the levy is filed, the value of new property is unknown. Under state law, school districts have only one chance to capture revenue from new growth. The largest anticipated property growth year in the future for the District will be when new property for The Glen is introduced to the tax base during levy year 2022.
“Many factors contribute to how a property owner’s taxes are determined, and so it’s important that taxpayers not equate the levy request amount with an assumed increase in their individual property taxes,” said Gravel.
Even though the Board is not required to host a Truth in Taxation hearing because the levy amount requested is less than five percent, it has elected to do so to provide an opportunity for community input. The hearing will be held during the Board’s regularly scheduled meeting on Monday, December 11, 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