District 203 and 204 New Tax Levies

Both school District 203 and 204 discussed their tentative tax levies at their board meetings.

Tax Levy For Both School District

Taxpayers in District 203 could be looking at an additional 2-3% in 2020, and at 204 that number is just under 2%.

District 203’s chief financial officer asked the board to set its tax levy for roughly $250 million. District 204’s asked board members to set theirs around $310 million.

The levy accounts for equalized assessed valuation, consumer price index, and construction.

“We were originally estimating $45 million for new construction. We’ve revised that estimate down to $35 million. For levy purposes, the levy that we’re proposing tonight would cover up to $55 million worth of new construction,” said Michael Frances, District 203’s chief financial officer.

What Does That Look Like For The Average Homeowner?

The average District 203 homeowner of a $410,000 home would pay around $127 more in taxes with the new levy. A District 204 home with a value of $300,000 would see an increase of around $95.

“The estimated an increase of property taxes proceeds for District 204 is $10 million, of which $4.8 million comes from new property. Although we’re not subject to the Truth and Taxation law this year, we’re still planning on following the process and will hold a public hearing and a final adoption for the board of education,” said Jay Strang, District 204’s chief school business official.

District 203 and 204 will make a final decision on their tentative levies in December.

Naperville News 17’s Aysha Ashley Househ and Christian Canizal report.

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