The growth that sends about 200 new students a year to Lincoln-Way High School is also boosting the school district’s tax base and stabilizing tax rates, school officials said at a recent press conference.
The school district expects to file a $21.9 million tax levy based on an equalized assessed valuation estimated at $1.3 billion, including $54.5 million in new growth.
Residential and commercial construction sites dot the Lincoln-Way attendance area, which includes New Lenox, Manhattan, Frankfort, Mokena, Frankfort Square and a section of Tinley Park, and that growth is responsible for the increase in assessed valuation, district officials said.
The higher assessed valuation makes it possible to keep property tax rates at about $1.78 for each $100 of assessed valuation. “We’ve estimated it will stay the same or even go down,” Assistant Supt. Joe Davis said.
But growth is going to cost the district some money, as well.
The school board voted earlier this month to expand the district’s East Campus in Frankfort and Central Campus in New Lenox into two four-year high schools to keep pace with enrollment.