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player ready...Early forecasts have Des Plaines School District 62’s levy climbing nearly $1 million higher than last year before tax revenue from new property is added to the mix.
Deputy Supt. Raymond Gunn said Monday that the district expects to tax at the cap of 3.3 percent, boosting revenue to $28.4 million for fiscal 1998 from $27.5 million last year.
However, assuming new property pushes the district’s equalized assessed valuation up 1 percent, total revenue for the year could reach $28.7 million–or 4.3 percent above last year’s levy, said Gunn.
Because the district is basically landlocked, new property growth has been limited in recent years to about 1 percent or less. Still, the district will see some gain this year, notably from a new construction at Wolf and Algonquin Roads, where Juno Lighting Inc. recently occupied a 525,000-square-foot, $22.3 million facility.
The district, while hardly strapped, has been in deficit spending for the past three years, forcing it to tap reserves in its education fund reserves.
The board is expected to approve a tentative levy by mid-November.
Final approval is expected Dec. 15.