LINCOLN-WAY BOARD APPROVES TAX LEVY OF $28.6 MILLION

The Lincoln-Way High School Board last week approved a $28.6 million tax levy for 1998 that is 20.18 percent higher than the 1997 levy.

Much of the increase is attributed to a rise in the growing district’s assessed valuation. The tax rate for 1998 is expected to total about $1.90 for each $100 of assessed valuation, up from $1.79 in 1997.

The levy includes $17 million for the education fund, $3.1 million for the building fund, $1.5 million for the transportation fund, $248,262 for the special education fund, $375,000 for the Illinois Municipal Retirement Fund, $375,000 for Social Security, $620,000 for liability insurance, and $4.8 million for the bond and interest fund.