Evanston District 65 proposes 4.99% property tax increase
Evanston/Skokie School District 65 is proposing a 4.99% increase to its property tax levy for the coming year, Chief Financial Officer Eric Miller told the school board at its meeting Monday.
This increase would raise a $500,000 home’s annual bill by about $110, according to Miller.
Under Illinois property tax law, school districts can increase their levy each year by either the previous year’s inflation rate or 5%, whichever is lower.
The Illinois Department of Revenue has identified an inflation rate of 2.7% tied to property taxes payable in 2027, according to a District 65 memo, but school districts can approve something called a “balloon levy” to also capture payments from new properties added to the tax rolls within the last year. Miller said the district’s current planning assumes about $15 million in new property.
“The higher request provides room for uncertainty in property values and other unknowns,” he said.
However, the district can receive only the maximum amount of taxes allowed by law. If not enough new property is added to the tax rolls to support the requested 4.99% increase, the district will only receive money from new properties actually built.
The school board is scheduled to hold a public hearing on the matter at its Dec. 14 meeting, followed by a final vote to approve the levy increase.
