District-428 School Board to hold public hearing for 2018 tax levy
DeKALB – The DeKalb School District 428 Board will hold a public hearing before a scheduled vote Tuesday on their 2018 tax levy.
The public hearing – set to go first according to Tuesday’s agenda – will take place before a vote for the board to adopt a 2018 tax levy, which would equate to a $4 increase in the District 428 tax based on the county assessor’s estimation of a 4.1 percent property value increase for homes valued at $150,000 to $156,000.
Cynthia Carpenter, finance director for the district, said she feels confident in the option set before the board.
“We do have to adopt a tax levy [before the close of fiscal 2018],” Carpenter said. “I think we’ve had some good conversations because we started this process fairly early back in November, so I believe that we’ve given [the board] options to look at.”
The plan set before the board is to adopt the levy by abating the bond and interest payments.
Carpenter said DeKalb County usually levies on behalf of the district to help pay back debt.
“The district is saying, for this year, we don’t want the county to levy that entire amount, the district is going to take it out of their own funds to give relief to the taxpayer,” Carpenter said.
According to the agenda packet, the tax levy will be adopted with a
7.4 percent tax rate. The adoption will include a reduction in the bond and interest levy by $1,750,000, which will save the taxpayer $111 dollars, according to the packet.
Carpenter said the vote before the board will be twofold: one to vote on the tax levy, and one to vote on the bond abatement.
Listed under new business items for the board is the consideration of terminating an intergovernmental agreement between the IlliniCloud and District 428 district because of insufficient funds to maintain the program, and updates on the shared-use agreements between the DeKalb Park District and District 428.