District 225 Reduces Proposed Tax Levy
Officials approve 5 percent levy, a reduction from the tentative proposed levy of 6.9 percent.
Glenbrook High School District 225 officials reduced the district’s tax levy this month to 5 percent, according to a press release from the district.
Last month, they’d adopted a tentative levy of 6.9 percent.
However, board members reduced it to 5 percent at their Dec. 10 meeting.
The change comes after the Cook County Assessor’s office released new projections on the equalized assessed valuation of the Astellas property, which created new tax revenues for the taxing body, the release said.
The final levy now represents 3 growth percent based on the Consumer Price Index, and 2 percent from new property growth.
The previous levy had 3.9 percent from new growth, but that projection changed and so the levy was lowered, according to the release.
“The district collaborates with its municipal partners to ensure each entity is utilizing the most current information regarding new growth,” said Assistant Superintendent for Business Affairs Hillarie Siena in the press release.
The new tax levy amount of 5 percent represents total revenue of nearly $103 million, which is an increase of 4.4 percent from last year, district officials said.
The Board held a Truth in Taxation hearing on December 10 during its regularly scheduled meeting to adopt the levy.
Information on the levy is available on the district’s website.