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District 59 opens public hearing on 2024 tax levy; administration explains 3.87% ask
Summary
During a public hearing Nov. 13, district finance staff explained the proposed 2024 tax levy (a 3.87% ask), projected extension amounts, and the mechanics of EAV, CPI and Cook County equalizers; the board opened and then closed the hearing after no public comments.
The Community Consolidated School District 59 board opened a public hearing Nov. 13 on the district's proposed 2024 tax levy and heard an extended staff presentation outlining the levy ask and the factors that determine what the district ultimately receives.
"A levy, again, is the ask. It's what I have to ask for," said Ron, the district staff member who presented the levy overview, explaining the levy is a ceiling and the county's extension is the amount actually granted. He said the district's audited fund balance as of July 1 was $142,899,307.
Ron walked trustees through the mechanics: equalized assessed value (EAV), the inverse relationship between EAV and tax rates, and Cook County's equalizer adjustments. For this year he estimated an extension excluding bond and interest of about $106.7 million and said including bond and interest would be roughly $112 million. The proposed levy ask would produce a projected 3.87% increase over last year's extension (3.68% if bond and interest are included), he said.
Board members asked about assumptions: one trustee asked whether new construction materially affected the EAV; Ron said the report assumed about $15 million in new construction and noted Microsoft's planned work in the tech park could meaningfully increase local values over the coming years. Lucas and other members pressed whether the district should ask the maximum 5%; Ron said he chose 3.87% as a conservative maximization tied to the CPI number (about 3.4%) and to avoid unnecessarily large headline figures while still covering likely revenue changes.
After the presentation the board moved to open the public hearing by roll call; no members of the public addressed the board on the levy and a motion to close the hearing passed unanimously.
The board scheduled final action on the tax levy for its Dec. 11 meeting, when the trustees will vote on final levy amounts and any reductions to operational levies prior to filing with Cook County.
