2009 Tax Levy

posted: 3-23-10

Board approves 2009 tax levy; abates $5 million

Following a public hearing at its December 10, 2009 regular meeting, the Board of Education approved the proposed 2009 tax levy as presented. The 2009 tax levy is $189,202,017, excluding the Debt Service Fund, and it reflects an increase of 0.6% over the 2008 tax levy of $188,084,019.

The Board also adopted a resolution to authorize and direct the County Clerk to abate a portion of the taxes levied for the year 2009 ($5.0 million) to pay debt service on $50,470,000 of school bonds (series 2006).

In an effort to preserve the maximum operating levy as limited by the Property Tax Extension Limitation Act, a debt service abatement lessens the overall tax increase, while maximizing the aggregate extension per the Tax Cap. Utilizing reserve in the Working Cash Fund, the approved $9.0 million transfer from Working Cash to the Debt Service Fund in 2007, provided for three consecutive property tax abatements of $3.0 million to levy year 2007, 2008, and 2009. The option to increase the abatement amount for 2009 an additional $2.0 million from $3.0 million to $5.0 million was presented to the Board of Education at its meeting on October 22, 2009. This increase will not adversely affect the future balance of the Working Cash Fund and will maintain a level debt levy to taxpayers.

Additional information on the 2009 tax levy is available at:http://www.d211.org/pdf/2009_levy_information.pdf

Certificate of Tax Levy 2009

1750 South Roselle Road
Palatine, Illinois 60067-7336
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