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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