After passing the 2018 tax levy in December, the District 203 board is now looking to reduce it to save taxpayers money.
That starts with the board’s plan to reduce district debt by abating the $2.7 million debt service levy.
At its latest meeting, the board weighed the option of an additional $1-2 million abatement from the tax extension.
“I do so cautiously and with concern thinking about future out years when we consider new initiatives that may be coming, and changes we have to provide to programing in order to stay at the forefront of what we’re doing,” said Superintendent Dan Bridges.
The average district homeowner of a $400,000 home will see a reduction in their tax bill by $75 with the abatement of the levy.
But an extra $25 could go back into homeowners’ pockets for every additional $1 million abated from the extension.
And some would prefer staying close to that $1 million mark.
“I’ve seen where boards have cut the levy- cut it too much, and it does catch up with you eventually,” said board member Terry Fielden. “And it’s hard to make that up. My personal feeling is that maybe $2 million is too much on this go around and then we look at the $1.5 million scenario and then the board would continue evaluating it each year to see what that ripple effect is and understand it more fluidly.”
But some are considering going up to $2 million.
“I’m pleased that we are, I think, well able to handle the $1 million. I would be comfortable from 1.5 to 2. I think $1 million is too low. So from my perspective I would like to see us hit that sweet spot of where we are able to not impact our future spending but also save our taxpayers dollars,” explained Kristen Fitzgerald, president of the board.
The tax levy is the district’s annual request for property tax revenue, which makes up 85 percent of the district’s revenue.
Based on this discussion, two resolutions will be made up, one for a $2 million abatement and another for a $1.5 million abatement. The board will approve one or the other at the March 18 meeting.
Naperville News 17’s Christine Lena reports.
