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Kaneland board adopts $60.28 million tentative tax levy, finance director outlines why homeowners may still see higher bills
Summary
Kaneland CUSD 302 adopted a tentative 2024 operating levy of $60,280,000 after a presentation explaining EAV growth, the PTELL tax‑cap mechanics, and sample homeowner impacts. Officials stressed the levy funds next year’s budget and noted the levy hearing is Dec. 9 with final filing later in December.
The Kaneland Community Unit School District 302 Board of Education voted to adopt a tentative 2024 operating tax levy of $60,280,000 after a detailed presentation on how the levy was calculated and what it could mean for homeowners.
Finance director Dr. Bogan told the board the levy is the district’s primary source of revenue for the 2025–26 budget and walked trustees through the calendar for finalizing the levy: updates on Nov. 25, a public levy hearing on Dec. 9 and final filing with county clerks in mid‑ to late December. He said a new Illinois law requires districts to publish ending fund balances by fund as of Sept. 30 during the levy process.
Bogan explained the levy math depends on equalized assessed value (EAV), new construction and the property tax extension limitation law (PTELL). He said the district expects roughly 16% EAV growth this year driven primarily by residential building and that the cap extension used in the limiting‑rate calculation will be the lesser of CPI or 5% (this year CPI is 3.4%). Using those inputs and last year’s extension, he showed how the district arrived at a limiting rate and the resulting aggregate extension.
The finance director presented sample homeowner calculations to show why some residents could see higher bills even though the district’s tax rate is estimated to fall from $6.38 to $5.63 per $100 of assessed value. “Even though the rate has gone down, my home is valued at more, and so my tax bill goes up,” Bogan said, demonstrating scenarios for homes valued at $200,000–$500,000.
Board members asked questions about options to ask for less than the maximum levy and the downstream effects of leaving revenue on the table. Bogan said asking for less would reduce future levy bases and could limit the district’s ability to capture new construction revenue in subsequent years.
The board approved the tentative levy by motion. The levy is tentative; the public hearing and final adoption will occur at the dates presented, and the district will file the final levy with Kane and DeKalb county clerks before the statutory deadline.
What happens next: the board will review any levy updates on Nov. 25, hold the required public hearing on Dec. 9 and consider final adoption afterward; filing deadlines fall in mid‑ to late December.
