Growth is keeping Lincoln-Way High School’s tax rate steady as the tax levy increases.
District taxpayers will likely pay the 1999 rate of $1.93 for each $100 of assessed valuation this year, Supt. Lawrence Wyllie told the School Board recently.
This year’s levy of $28 million represents a 21 percent increase, resulting from growth in the assessed valuation, which could total $1.7 billion. “We had a massive amount of new construction,” Wyllie said.
Assessed valuation in the Lincoln-Way district, which includes the rapidly growing suburbs of Frankfort, Frankfort Square, Mokena, Manhattan and New Lenox, has grown from $224 million in 1978, when the tax rate was $1.51 for each $100 of assessed valuation.
Lincoln-Way’s per-pupil expenditure is $6,690, the third-lowest rate in the Chicago area, Wyllie said.
The proposed 2000 tax levy requests $20 million for the education fund; $3.6 million for the building fund; $1.7 million for the transportation fund; $285,000 for the special-education fund; $450,000 for the Illinois Municipal Retirement Fund; $450,000 for Social Security; $675,000 for liability insurance; and $675,000 for the working cash fund.
The levy for the bond and interest fund is $6.1 million.
The School Board, which approved the proposed levy, scheduled a Truth in Taxation hearing for 7 p.m. Dec. 12 in the Board Room at the Lincoln-Way Central Campus, 1801 E. Lincoln Highway.