Fiscal Responsibility and Taxes
Huntley 158 Board of Education Approves 2024 Tax Levy
After a public hearing at the Huntley 158 Board of Education meeting on December 19, 2024, the board voted 6-0 to adopt the 2024 tax levy. The requested aggregate amount of total property taxes to be levied for 2024 approximates $95.43 million, which reflects a 2 percent increase over last year’s extension after an approved abatement for taxpayers in the amount of $110,000.
Under the Illinois Property Tax Extension Limitation Law (PTELL), increases in property tax extensions are limited to the lesser of 5 percent or the increase in the Consumer Price Index (CPI) for the previous year. The CPI for calendar year 2023 was 3.4 percent.
Tax levy requests are based on projected operating expenses, estimated property values (Equalized Assessed Value or EAV, which is determined by the counties) and local projected revenue from new construction. The 2024 tax levy request reflects current rising costs due to inflation, an estimated EAV increase of approximately 13.8 percent, and estimated new construction valued at $49.9 million. Primarily driven by rising home values, Huntley 158’s tax rate of approximately 4.56 (per $100) decreased 8.4 percent from last year’s rate of 4.93.
Based on the 2024 tax levy request original estimates, the owner of a home valued at $400,000, with no increase in property value (EAV), could see a tax increase of approximately $129. Note: Individual tax bills may go up or down based on property assessments as determined by the township assessor, and/or fluctuations of distribution between Kane and McHenry Counties.
Huntley 158 receives approximately 60 percent of its operating revenue from local tax dollars. Property taxes enable a school district to meet current financial obligations and plan for future needs. The money school districts receive from annual property tax levies fund salaries and benefits per collective bargaining agreements; routine maintenance and improvements to aging facilities; educational programming and strategic planning initiatives; and overall operating costs.
Huntley 158 maintains one of the lowest operational costs per student in McHenry County. Creating a culture of operational efficiency continues to be a focal point of the district’s strategic plan, where the goal is to keep every dollar in the classroom to support students with highly qualified staff while reducing the tax rate for the community. The district’s operational efficiencies range from HVAC improvements and electrical upgrades to energy savings through environmental initiatives and other cost-cutting measures.
"The board remains committed to fiscal responsibility while ensuring a quality education for all students," said board president Andy Bittman. "The small levy increase, offset by targeted abatement, is a measured approach to ensure our schools have the resources in the classroom they need now and in the future while minimizing the impact on taxpayers as shown by the continued decline in overall property tax rate."
Click the link for the tax levy presentation from the regular board of education meeting on December 19, 2024.