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CHSD 128 presents preliminary levy estimate; board to revisit for final adoption in November
Summary
District finance staff told the board the district is estimating a preliminary levy increase of about 3.7% (CPI plus net new construction) and that the board will consider formal adoption in November; the presentation noted new construction on the tax rolls and recommended a requested levy of 3.9% to provide a cushion.
Mr. Stanley briefed the CHSD 128 Board of Education on Oct. 27 on the district's annual property-tax levy process and presented a preliminary estimate the administration said reflects CPI-based limits and recent new construction.
"We are estimating, based on the statutory calculation, that it'll go up about 3.7 percent," Mr. Stanley said, pointing to consumer-price-index factors and additions to the tax base such as Camlin Sports in Libertyville.
Stanley said the administration is proposing to request a levy increase of 3.9 percent to provide a cushion against changing equalized-assessed-value (EAV) estimates. He said the same material had been presented to the finance committee and that the board will revisit the levy at the November committee and the November board meeting for final adoption.
Board members had no substantive change requests during the discussion; the presentation closed with a reminder about the November schedule for a final levy vote.
