Although the numbers at this point in the year include many estimates, Elmhurst Unit School District 205 staff has recommended that the school board ask DuPage County for 4.2 percent more in property taxes in 2015.
Christopher Whelton, assistant superintendent for finance and operations, explained that the tax cap limits the district to requesting 5 percent more in property taxes over the previous year, or the amount of the consumer price index, whichever is lower. Last year, the CPI increased 0.8 percent.
On top of the amount that can be levied under the tax cap, districts can also request funds from any new growth from the previous year. This year, the district is working on an estimated new construction value of $35 million but is levying for an additional $25 million to make sure it captures all growth. DuPage County will not automatically extend any revenues from growth, so districts must assume enough from construction and build it into the levy request.
According to Whelton’s calculations, after new growth is calculated and the county extends the levy, homeowners will actually see about a 1.6 percent increase in the District 205 portion of their tax bill. The owner of a $300,000 home will pay about $90 more to the district in 2015.
Whelton reminded the board that no matter what the district requests, DuPage County will only extend the tax increase allowable under the tax cap. He added that the March extension has averaged almost 2 percent less than the December levy request.
A public hearing on the tax levy will be held on Dec. 15. The district should find out how much it will get from the county in March.
Carol Morency is a freelance reporter for Pioneer Press.