Tax Levy Truth in Taxation Public Hearing 12/5/2022
The Board of Education of Indian Prairie School District 204 has scheduled a public hearing for Monday, December 5, 2022 at 7:05 pm at Crouse Education Center, 780 Shoreline Drive, Aurora, IL. Any person desiring to appear at the public hearing and present testimony may contact Matt Shipley, Chief School Business Official at 630-375-3071.
The Illinois School Code authorizes Boards of Education to levy a tax on the real property within the district to support its public schools. The Illinois property tax cap permits the Board to increase its tax extension by an amount limited to the Consumer Price Index (CPI), capped at 5.0% (percent), plus any new property growth that may have occurred during the past year. The tentative levy is set at an amount to capture the taxes from the allowable CPI increase and new growth.
The corporate and special purpose property taxes extended or abated for the year 2021 were $296,169,648.
The proposed corporate and special purpose property taxes to be levied for the year 2022 are $314,883,166. This represents a 6.32% (percent) increase over the previous year.
The property taxes extended for debt service for the year 2021 were $27,599,427.
The estimated property taxes to be levied for debt service for the year 2022 are $27,092,341. This represents a 1.84% (percent) decrease over the previous year.
The total property taxes extended or abated for the year 2021 were $323,769,075.
The estimated total property taxes to be levied for the year 2022 are $341,975,507. This represents a 5.62%(percent) increase over the previous year.