District 91 Asst. Superintendent of Operations Ed Brophy told the board that D91 will be able to abate a portion of the property taxes charged by the schools starting next fall. He cautioned though that due to taxing issues beyond the purview of the local schools, that local taxpayers may not easily spot the abatement on their bills.
The money, an estimated $380,000, will come from tax-capped revenue funds. It will consist of a 1.5 percent requested increase in the Consumer Price Index (CPI) and an up to 1.2 percent increase in Equalized Assed Value (EAV) of new property developed in the village. The tax abatement money will be earmarked to pay down debt service, Brophy said.
The tax relief may not be completely evident to homeowners, he told the board, since assessed home values have increased and the Cook County homeowner property tax exemption is being phased out. “The decrease may not be visible on your tax bill. It might even be a net-zero change,” he said in an interview later. D91 is able to rebate the money because “the district has been in a healthy position for some time,” he said.
