Growth has added slightly more than 10 percent to Lincoln-Way High School’s equalized assessed valuation.
Supt. Lawrence Wyllie said recently that Lincoln-Way’s equalized assessed valuation has nearly tripled in the last 10 years from $449 million in 1989 to $1.3 billion in 1999.
Wyllie added that the tax rate increase from $1.79 to $1.90 for each $100 of assessed valuation is “less than what we thought it was going to be.”
School officials had predicted an increase of 14 cents after voters approved a bond sale to finance expansion of the district’s two campuses into two four-year high schools, but the increase is only 11 cents, Wyllie said.
The 1999-2000 budget projects expenditures of $24.9 million from the education fund, $3.1 million from the building fund, $1.9 million from the transportation fund, $4.8 million from the bond and interest fund, $689,972 from the Illinois Municipal Retirement Fund and $568,717 from the tort immunity fund.