At their December board meeting, members of the Park Ridge-Niles Community Consolidated School District 64 Board of Education voted to increase the tax levy by 5.72%
The board approved the tax levy increase minutes after completing a truth-in-taxation hearing on Dec. 14. Chief School Business Official Adam Parisi presented the levy to the board.
Illinois’ Property Tax Extension Limitation Law limits increases in property taxes to the lesser of 5% or the increase in the consumer price index. The district tacked on an additional 0.72% percent to capture tax revenue from new developments in the school district.
Parisi said it was the second year in a row that the levy went over 5% in 30 years because of high inflation.
Parisi said the district is still paying off the bonds it sold in 2021 to finance the construction of building additions to the district’s schools to offer full-day kindergarten. He said the levy increase will also help pay for the bonds.
The Illinois Report Card shows that student enrollment at District 64 has decreased slightly since 2018. Parisi said throughout the state and neighboring districts, the lower attendance has been due to a combination of students not returning to class after the COVID-19 pandemic and high interest rates in the housing market which keep people from buying a home in the district.
At the time of the truth-in-taxation hearing and the vote to approve the levy, no one made a public comment. Nor did any of the board members comment before the vote.