District 62 adopts $93.25 million levy after Truth in Taxation hearing
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Summary
After a Truth in Taxation public hearing, the CCSD 62 Board of Education approved levy resolutions and certificates reflecting a $93,251,000 2025 tax levy (estimated rate $3.307 per $100). The board also discussed whether to retain approximately $2.4 million in Cook County recapture funds and will consider timing for any refunds.
The CCSD 62 Board of Education on Dec. 15 approved resolutions and certificates setting the district’s 2025 tax levy at $93,251,000 following a statutory Truth in Taxation public hearing.
Unidentified board staff opened the hearing and outlined the proposed levy, which the administration said reflects a 4.95% increase over the 2024 tax extension and an estimated total tax rate of $3.307 per $100 of taxable value. Administrators said the increase captures new construction and other revenue sources while noting pressures including property tax refunds, the Cook County collection process and state‑level uncertainties.
During the hearing administrators reiterated the district’s relatively strong financial position and said the board has intentionally under‑levied in recent years as bonds were paid off, allowing taxpayers a temporary relief. Board members and staff discussed how countywide shifts — a larger share of taxes now borne by homeowners — have affected local assessments and cited recent media coverage about Cook County policies on commercial tax incentives.
The board then moved through a series of levy‑related resolutions, including amounts for the educational ($70.55 million), operations & maintenance ($10.2 million), special education ($4.3 million) and transportation ($4.0 million) funds on the ISBE form. A motion to approve the resolutions and associated certificates passed by roll call vote.
Board members also discussed Cook County “recapture” funds and noted the estimated $2.4 million figure this year, which the board said could be retained to help offset current deficit spending; staff said any decision about returning or distributing those dollars can be made in January once timing and formulas are finalized.
The board’s action completes the statutory hearing and certification steps required under Illinois law; staff said final disbursement timing depends on county processing.
What’s next: staff will publish the formal levy documents required by ISBE and monitor county disbursement timing as they finalize year‑end cashflow planning.