$209.5 Million Property Tax Levy Slated For District 202

Plainfield IL

29 November, 2021

1:00 PM

Description

PLAINFIELD, IL — Plainfield School District 202 officials are prepared to ask for about $6.6 million more in local property taxes for the 2021 levy compared to last year's total. Including bond and interest, the amount officials are requesting is upwards of $209.5 million, about 5.2 percent higher than the roughly $203 million levy the previous year. But officials said the district's projected total tax rate is expected to drop — from $5.26 to $5.08 per $100 of equalized assessed value — for the seventh straight year due to rising property values. Since 2014, when the district's share reached $6.26, the tax rate has fallen 16 percent, according to a Nov. 23 news release. Subscribe to Patch's free Plainfield newsletter and get real-time email alerts. Despite planning, the actual tax rate can't be determined until after District 202's EAV is finalized earlier next year when final tax bills are complete. As a result, officials are budgeting for a higher amount — a process called "balloon levy" — than they'll likely receive to ensure they capture their full share. When the levy process is complete, Director of Community Relations Tom Hernandez said in the release that District 202 will be able to increase its local property tax revenue by only 1.4 percent, plus the value of new construction. The state tax cap limits the amount of new revenue a district can levy each year to either the Consumer Price Index, which will be 1.4 percent, or 5 percent, whichever is less. "New property values can fluctuate between now and when final numbers are received. In addition, the economy continues to show signs of slow improvement," he wrote. Of the total proposed levy, about $183.6 million — or 86 percent — will go toward the district's operating funds, which include education, operations and maintenance, transportation, working cash, special education, tort, and the Illinois Municipal Employees Retirement Fund. To discuss the proposed levy, the Board of Education will hold a public hearing, required by law, at its regular meeting starting at 6:30 p.m. Dec. 13. The event will take place at Wallin Oaks Elementary School, 15410 S. Wallin Drive. The Board is expected to vote on the proposed levy during the same meeting. RELATED: Plainfield Property Tax Not Expected To Change Next Year: Board Editor's note: This article has been updated to reflect the district's total tax rate will drop due to rising property values, not property taxes. Patch apologizes for the error. (For more news and information like this, subscribe to the Plainfield Patch for free. If you have an iPhone, click here to get the free Patch iPhone app; download the free Patch Android app here. Don't forget to like us on Facebook!)