McHenry Times

The District 155 Board of Education heard an update from Dr. Kevin Werner, the district’s chief officer of Finance and Operations, during its Nov. 15 meeting.  

During the session, streamed on YouTube, Werner highlighted a resolution to adopt a tentative tax levy, an issue discussed at the board’s October meeting. He pointed out that since 2010 the district has been focused on tax savings for the community members since 2010, saving residents an estimated $23 million since then, with this levy set to be $2.9 million under the levy amount allowed to the district. The resolution was approved by the board. 

“This would be a 5.9% increase from the previous year, costing around $103 for a home worth $250,000,” Werner said. 

According to Werner, the district is going through many of the same struggles as other government entities, with inflation at record levels and several COVID-related relief funds slated to expire this year or at the end of the current school year. He also said that the district’s Finance Committee proposes a 5% inflation rate for a tax cap extension that would generate $52.9 million. 

“If approved, such an increase is expected to keep the limiting tax rate flat or down for the eighth consecutive year,” he told the board. 

A levy hearing is set for Dec. 13 at Crystal Lake South High School.

In other business, Werner also outlined the district’s Property Tax Relief Grant Application for the fiscal year of 2023. 

According to Werner, the program was started in 2019 to give the districts with higher tax rates the chance to give residents a break by lowering tax rates. He said that the State Board of Education has $49.7 million in the fund for the 2023 fiscal year, adding that the Finance Committee saw the benefits of applying to the program, with the board in agreement, granting permission to submit an application. 

“While our ability to participate in this program is deemed unlikely as where we ranked in terms of prioritization, administration feels that it's a fiscally responsible action to still apply for the program,” he said. “Should D155 be selected for the program as a grant recipient the associated tax abatement opportunity is $5.9 million, which is more than this year's projected tax levy.”