Lincoln-Way District 210 Tax Levy Up for the First Time in Four Years
An increase in the Equalized Assessed Valuation (EAV) reflects upward movement in the economy.
For the first time in four years, the tax levy for Lincoln-Way High School District 210 is slated for an increase of roughly $3.5 million.
Details of the proposed tax levy were presented Oct. 25 at the board of education meeting at Lincoln-Way East High School. The total property taxes to be levied for 2012 are $77,927, 589, according to Sawin.
“As you know from previous levies, levying a certain amount does not guarantee that the district will receive the amount requested. For example, our 2011 levy was $74,416,681, while the actual amount extended was $69,951,870. The final official equalized assessed valuation for the district, the prior year’s extension, new property value, the adjusted tax rate, and the consumer price index all help determine the amount of local property tax dollars that the district will receive.”
It's tough to discuss the tax levy rate in terms of cost per household, said Sawin. At this time, "we don't know the tax rate."
School districts must approve their tax levies in December, and that's before the official assessed valuation of homes is determined. Thus, the district always requests more in taxes than it will actually get.
Sawin said he anticipates the district will actually collect about $72.19 million in property taxes, or $55.8 million excluding bond and interest. A portion of the taxes collected each year is automatically put toward money owed for construction projects. The rest goes to other funds, including education, building and transportation.
Property taxes make up about 65 percent of the district's $97.14 million 2012-2013 budget. The District 210 tax levy accounts for about 25 percent of the average resident's tax bill.
A public hearing on the tax levy will be held at 6 p.m. Dec. 11 at Lincoln-Way Central, and the board is expected to vote whether to adopt the tax levy the following night during a 7 p.m. meeting at the high school.
Providing a historical perspective
In the months before the economy tanked in 2008, the Equalized Assessed Value (EAV) of all taxable property in the 100 square miles of the district stood at roughly $4.08 billion. That value declined over the next three years. However, this year the projected EAV is $4.16 billion, which is about $81.5 million more than the previous high set in 2008.
The school board set the 2012 levy hearing for Dec. 11 in the Board Room at Lincoln-Way Central. Formal adoption of the 2012 Tax Levy is scheduled for Dec. 13 at the board meeting.
In other financial business, the board accepted the 2011-2012 audit report, which was prepared by Mulchay, Pauritsch, Salvador & Co, Ltd., Orland Park.
Readers might like: Lincoln-Way School Board Approves 2012-13 Budget
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pepper
6:45 am on Saturday, October 27, 2012
upward movement in the economy? maybe by their standards!
DRK
8:22 am on Saturday, October 27, 2012
They must be drinking the Kool-Aid also!!!!!!!!
James
8:37 am on Saturday, October 27, 2012
let's see now; gas prices are up, food prices are up, all insurance prices are up, state payroll taxes are up, the value of the house is down but the rates went up and I received the benefit of another property tax increase and I've been sitting at the same salary for 3 years so I can keep my job. Never did buy into all that hope and change and now it seems we got more change. Just much less change in the back account and more to everyone else. Not quite grasping the upward swing in the economy myself.
Mike
11:12 am on Saturday, October 27, 2012
Interesting. LW is starting to talk alot like Obama. Here's the facts. The levy is going up 4.5% and the eav is going up 2%. So guess what, your tax rate will go up and your tax extension (how much you actually pay in taxes) will go up. (This is a goofy story and leads you to think that a 2% growth indicates an economic recovery. Give me a break!) But, unlike the LW spinners I'll be honest, tax extension from LW cannot go up anymore than the cpi or 5% whichever is less. So actually we shouldn't pay that more in taxes to LW. Also LW is actually a pretty good deal for the LW community. That's why it is so frustrating that LW is such a closed camp. Getting clear info from them is almost impossible. The real problem at LW is that it has too many schools and they won't admit it. They could close West or North and save millions of $$$$. They won't do that because they would have to admit that building one of those schools was a mistake. The obvious good move would be to close is West and negotiate a sale to Lockport HS or even a rent deal. Lockport East HS is 7 miles straight north from LW West. What a great deal for both districts. You can be bet if Kruzich or Rosenquist were still in the Supt's seat, this would be done.
West Dad
11:23 am on Saturday, October 27, 2012
Slow down Sparky. West isn't closing and renting to Lockport. The housing market is starting to turn and growth will come back to New Lenox. People are moving to the district because of the excellent reputation of LWW. Within a few years, the student population at West will be up to 1500 and growing each year. Progress takes time.
Will County Resident
3:44 am on Sunday, October 28, 2012
New Lenox did not gain any significant residents from 2008 to 2013.
There is no need for the other school. At all. Attendance at Lincoln-Way Central was not an issue in 2008 in the slightest. West is unnecessary. They said it would not cost any increase in taxes to build it. Here is the increase right now.
Michele V
10:37 am on Monday, October 29, 2012
Will County Resident apparently has a crystal ball to be able to predict population growth in 2013. Didn't know Walmart sold those things.
Will County Resident
3:41 pm on Monday, October 29, 2012
Michele, 2013 starts in two months. Do you think there is going to be a huge surge of people moving in during the winter? The population may change during 2013, but it will not change before 2013.
Don Olivieri
12:00 pm on Saturday, October 27, 2012
"...tax extension from LW cannot go up anymore than the cpi or 5% whichever is less." Can you clarify, is this for Residential Property only?
Eric B.
2:38 pm on Saturday, October 27, 2012
I'm not in the board room, but I am willing to trust the LW district with their financial decisions. The LW 210 district is one of the best in the state in terms of test scores (and athletics, music, etc.) while spending very little per pupil. That means the district hires effective teachers and spends money wisely on the students. People move to the LW area so their kids can go to school here, which is driving up our home values.
http://www.homesurfer.com/schoolreports/view/schoolrankreports.cfm?state=IL
Will County Resident
3:44 am on Sunday, October 28, 2012
Home values are being driven down due to the ridiculously high property taxes from district 122
Dan
3:23 pm on Saturday, October 27, 2012
It sure would be nice to know how much the recently negotiated and board approved new labor agreement between District 210 and the teachers union is going to cost the parents and taxpayers over the life of the agreement. Just a guess but I bet this new agreement has something to do with the tax levy increase.
N Yan
8:40 pm on Saturday, October 27, 2012
James...you hit it dead on. Ridiculous.
Eric Blair
6:17 am on Sunday, October 28, 2012
The home building is going up everywhere and it's not due to an improving economy. Just another variation of the 80's savings and loan scandal. Most new houses are being built on speculation evidenced by the "for sale" signs. The banks make the loans and collect their fees then dump the mortgage on our collective backs. This is how the "fed" is creating a false impression of an improving economy. In reality the "fed" (nothing federal about it, private banking cartel) just adds this new amount of 40 billion$/month (no end to this madness has been announced) to our national debt, plus interest. So far district 210 hasn't paid a penny on the 225million$'s in bonds issued for the two unneeded schools. Only interest. Admittedly more space was needed due to overcrowding but the magnitude of building was way out of proportion. I remember the superintendent pointing to his layouts of future homes that would supposedly justify the new building program. Most of these subdivisions are now empty with nothing but tumbleweeds blowing around. Only a few years ago the total budget was around 60million$. Simple math show almost a 40million increase with nowhere near the corresponding growth to justify the increase. This situation is going to get worse, a lot worse.
Eric Blair
6:29 am on Sunday, October 28, 2012
For the record I have nothing against superintendent Wyllie. He runs a huge operation that has to be very stressful. He's tough and all things considered does an outstanding job. The thing is I'll never understand why he was so adamant about building these schools. I'm sure he was informed many times that the economy was about to go under but he totally ignored this information. Admittedly superintendent Wyllie is highly intelligent, this begs the question: Why did he not listen to reason and at the very least go with only one smaller school?
Dan O'Sullivan Sr.
6:12 am on Monday, October 29, 2012
It makes me laugh when residents talk about too many schools and then bring up that West should close. Why would they close a brand new school like West and continue to use a rundown,outdated school that Central is? Maybe Central should close and split those kids up between West and East! Sounds like a good plan to me! :)
Mike
8:20 am on Monday, October 29, 2012
That's a good idea. The important thing is that we need only 3 schools. Closing the oldest is probably the best idea. Start a phase out next year and close it June 30, 2014. Thanks for the great idea. Now let's make sure we get new board members in place to fight for the taxpayers.
NL4LIFE
6:16 am on Monday, October 29, 2012
I vote a big fat NO!
Paul Ruff
6:32 am on Monday, October 29, 2012
I would like to see the people that are Poff at there assessments and bitch; go the the meeting and cry and bitch. But I guess thats not going to happen, just spend and spend!!!!
Mike
8:22 am on Monday, October 29, 2012
I bet you could say this in a better tone. You're sounding the POTUS.
Donny
9:23 am on Monday, October 29, 2012
Seriously, enough with the talk about West closing, or any LW school closing. It's simply not going to happen. Period. Whether or not it was right in the first place is irrelevant now. 4 schools are open, 4 will continue to run.
Will County Resident
3:43 pm on Monday, October 29, 2012
Why? There's no need to have the schools open. The population figures haven't changed since 2008. LWC was doing fine housing the LWW students. There is no need for LWW yet. Why shouldn't they close it and use it only when they need to?
Donny
4:03 pm on Monday, October 29, 2012
Like I said WCR, whether or not it is necessary is irrelevant now. People can complain all they want, but you aren't going to see a large high school just close down anymore. It's all pipe dreams. Doesn't matter if new board members take over or a new super comes in. The LW train keeps rolling along.
fred
11:19 am on Monday, October 29, 2012
This is what I can't figure out. LW has such a relatively low spending per pupil but our taxes (which is made of largely of the School systems) are so high. Is it because of the tax breaks given to the businesses in this area? How do you explain this?
Eric Blair
6:51 pm on Monday, October 29, 2012
Like said, "the chickens are coming home to roost". If you all want to blame someone blame the ignorant/stupid/unthinking/clueless/soft/weak/self important/ selfish yuppie scum who voted en mass 'YES'. How's your property value going now yuppie scum? When lose your mansion maybe you can move back in with mom and dad after you sell your Yukon's and Range Rover's. Won't be long now.