2010 Tax Levy

Board approves 2010 tax levy; abates $3.7 million

Following a public hearing at its December 9, 2010 meeting, the Board of Education approved the proposed 2010 tax levy as presented.  The 2010 tax levy is $194,606,455, excluding the Debt Service Fund, and it reflects an increase of 3.1% over the 2009 tax levy of $188,677.255.

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.  As part of the 2010 levy, the Board also adopted a resolution to authorize and direct the County Clerk to abate a portion of the taxes levied for the year 2010 ($3.7 million) to pay debt service on series 2006 school bonds. Including the 2010 levy abatement, the Board has reduced the Debt Service levy by $16.7 million by using existing working cash funds to pay an apportionment of outstanding bonds since 2007.

Additional information on the 2010 tax levy is available at:http://www.boarddocs.com/il/thsd211/Board.nsf/files/8BVJZP4F3FA8/$file/Adoption+of+the+2010+Tax+Levy+-+12-09-10.pdf

Certificate of Tax Levy 2010

 

1750 South Roselle Road
Palatine, Illinois 60067-7336
847-755-6600
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