We are fortunate to live in a community that values public education. Our first priority is to provide our students an excellent education while being good stewards of taxpayer dollars. We agree there is a heavy tax burden on residents of Illinois and McHenry County, and feel it’s important that our taxpayers know our districts have taken action to ease the tax burden while continuing to provide a quality education.
D155 Board Approves Tentative Tax Levy Increase and $1 Million Abatement
District 155’s Board of Education estimated and approved a tentative 1.37 percent tax levy increase while agreeing to rebate $1 million back to taxpayers in the form of a debt service abatement during its regular Board meeting Tuesday, November 17, 2020.
“We are mindful of our current economy and the need to rebate money back to taxpayers while safeguarding the district’s finances to continue to offer the best education in McHenry County,” said Jeremy Davis, assistant superintendent of finance and operations.
A homeowner of a $250,000 home who sees an average increase in their property value assessment will have an estimated tax increase of $2.45 per month or $29.35 for the year. If the homeowner of a $250,000 home does not see a property value assessment increase the homeowner will pay less to District 155 due to the district’s declining tax rate for the 2021 summer.
The one percent tax increase is inflationary and will provide District 155 with the necessary revenue to continue it’s three-year plan to complete the air conditioning projects at Cary-Grove and Crystal Lake Central.
“We heard the need to prioritize our facilities from our parents and students during the strategic planning process, and we remain focused on installing air conditioning at Cary-Grove and Central which will cost $7.6 million to finish,” said Davis.
District 155 has spent $87.5 million to improve its schools over the last seven years. The district has used its operating fund surpluses as well as its fund balances to complete necessary repairs and renovations.
Assuming the board approves its final tax levy and a $1 million abatement at its December 15 meeting, the district will receive an additional $1,041,120 to operate in 2021-22. It will also help the district weather the storm from upcoming state budget cuts and the COVID-19 pandemic.
The board and district administration continue to make strategic decisions to save district money while remaining fiscally responsible. With declining student enrollment over the last six years, the district has reduced the number of administrators by seven and the number of full-time certified teachers by 27.5. The district has also reduced health care costs and costs for purchased services and supplies.
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