In a recent government meeting, officials outlined the proposed tax levy for 2024, which is set to impact property taxes for residents in the Indian Prairie district. The operating fund levy is projected at $347 million, reflecting an increase of approximately $15.1 million, or 4.5%, compared to the previous year. This increase is primarily tied to the Consumer Price Index (CPI) of 3.4% and an additional 1.1% from new properties added to the tax base.

Despite the increase in the operating levy, officials anticipate a decrease in the overall tax rate, which is expected to be the lowest in over 15 years. The current tax rate is projected to decline from 5.36 to just above 5, with an average homeowner valued at $450,000 seeing an estimated increase of $2.15 in their total property tax payments, translating to a 3.16% rise.

The bond and interest fund levy will remain unchanged from the previous year, maintaining a consistent debt service tax rate as committed during the recent referendum campaign. The district's reliance on property taxes, which account for 78% of its revenue, underscores the importance of this levy in ensuring adequate funding for educational services.

The formal adoption of the tax levy is scheduled for December 16, 2024, following a public hearing to gather community feedback. This process will culminate in the filing of the levy with DuPage and Will counties, solidifying the district's financial framework for the upcoming year.