Resolution to Pursue Tax Levy Extension for 2016
During Monday’s board meeting, the board approved a resolution for business services to pursue a tax levy extension. Administration is recommending a 3.8% increase of the 2016 levy as compared with the 2015 tax levy extension. This percentage was recommended incorporating the known CPI (.7%) for the 2016 levy and to capture the estimated new construction amount for CCSD59. This equates to a proposed 2016 levy of $82,943,262 to offset the expected expenses in fiscal year 2016. Under the Property Tax Extension Limitation Law (PTELL), levy requests made by taxing entities are adjusted by the Cook County Clerk to ensure that the tax extensions do not exceed those limits as determined by the PTELL.
The 2016 tax levy must be filed with the Cook County Clerk by 12/27/16. The recommended timeline for the 2016 tax levy for CCSD59 includes a public hearing on 11/28/16 and a final adoption of the levy on 12/12/16. Both of these dates coincide with regularly scheduled board of education meetings.