Residents within Huntley School District 158 may experience a slight property tax increase as a result of the 2019 levy approved by the district board Thursday.
District 158 extends additional property taxes in line with the consumer price index, which is at 1.9% for the 2019 levy year.
At 1.9%, the owner of a home valued at $300,000 could experience an estimated $87 annual increase on his or her property tax bill. However, this number could change based on individual property assessments.
The levy is ballooned at 1.5% to cover new construction, which is estimated at $9.13 million. This would represent additional taxes of about $410,000 to the district. If new construction comes in higher than that estimate, District 158’s levy request can cover any underestimate by the county.
Last year, new construction was about $6.07 million. The increase this year was driven by an increase in residential property.
Although taxpayers may experience a slight increase, District 158 Chief Financial Officer Mark Altmayer said Huntley remains one of the lowest-spending school districts in the Chicago area.
Staff does everything it can to stave off excessive spending and move money into the classrooms, he said.
“We try to be as efficient as we absolutely can because we understand how important property taxes are to the county,” Altmayer said.
Under the Truth in Taxation law, a school district proposing an aggregate levy increase that’s more than 105% of the previous year’s extension must publish a notice for a levy hearing.
Although District 158’s aggregate levy for 2019 will be an additional 104.7%, it still held a levy hearing.