The Crystal Lake Elementary School District 47 Board unanimously voted to adopt a tentative property tax levy
The district is asking for $74,824,704 to be levied for 2018, according to a statement from community coordinator Denise Barr. She said this reflects a 0.3 percent rate reduction based on last year’s tax levy, as the district’s general obligation school bonds will be paid off in February.
For the past three years, District 47 abated $1 million each year from the district’s debt service levy, which Barr said contributed to reducing the overall tax rate.
Barr said the district will apply for the Illinois State Board of Education’s Property Tax Relief Grant, made available as part of the new evidence-based funding model used for school districts.
If granted, Barr said, the board will approve a resolution to abate the approved amount to “further ease the burden on taxpayers and reduce the overall tax rate.”
The board is expected to vote on the proposed tax levy at 7 p.m. Dec. 17 at the CORE Center, 300 Commerce Drive, Crystal Lake.
“We are continually looking for ways to reduce the tax burden on our community while striving to maintain our aging facilities and meet the academic and social-emotional needs of our students,” assistant superintendent of business Cathy Nelson said in a statement.
Barr said the district will use the tax revenue for general operational costs and to help fund balances to offset project costs associated with a five-year capital improvement plan.