District 87 schools aim to keep tax rate flat on projected land value gains

Posted on October 28, 2021

*The school board scheduled a December 8 public hearing on the proposed tax levy, and plan to take final action on the levy at that meeting. (WJBC file photo)*

BLOOMINGTON – District 87 administrators are banking on an increase in the district’s tax base next year to collect more tax dollars and not raise taxes on property owners.

Administrators announced Wednesday evening they plan to collect almost $46.6 million in property taxes next year, up about 4 1/4% from this year. However, the district’s tax rate is expected to be flat at $5.17 per $100 of assessed valuation.

At that rate, administrators said the owner of a $150,000 home would pay almost $2,600 to the district next year, while the owner of a $250,000 home would pay just over $4,300 next year.

Administrators said they’re anticipating taxable land values to grow 2.34% next year, but they’re prepared in case the tax base grows at a faster-than-expected pace.

The school board scheduled a December 8 public hearing on the proposed tax levy, and plan to take final action on the levy at that meeting.

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