McHenry Times

School districts across McHenry County held a combined $326.6 million in long-term outstanding debt as of fiscal year 2024, amounting to 24.3% of the area’s total allowable borrowing capacity, according to the Illinois State Board of Education.

Under Illinois law, districts may only borrow up to a certain limit based on their Equalized Assessed Value (EAV)—a standardized measure of taxable property used to determine legal debt caps.

Based on the school district's enrollment of 44,099 students, the countywide debt translates to approximately $7,406 per student as of fiscal year 2024.

The county includes 15 school districts, of which Huntley Community School District 158 held the most debt, totaling $104.5 million.

Huntley Community School District 158 ranked 32nd statewide among all 851 Illinois districts reporting outstanding debt.

Among the school districts in McHenry County, Johnsburg Community Unit School District 12 used the highest percentage of its EAV-based debt limit at 8.6%, holding $43.2 million in outstanding debt with 1,668 students enrolled—approximately $25,912 per student. Prairie Grove Community School District 46 ranked second, using 7.2% of its borrowing capacity with $22.9 million in long-term debt and an enrollment of 867— $26,424 per student.

Countywide, students identifying as white comprised the largest ethnic group in McHenry County schools, accounting for 67.7% of the total enrollment. The second-largest ethnic group was Hispanic, comprising 26.6% of the student body.

The data was obtained by Wirepoints through a Freedom of Information Act request to the Illinois State Board of Education.

Illinois has enacted a law that changes the amount of debt school districts can issue. According to an analysis by Chapman, the new rules permit school districts to borrow more money than previously allowed. At the same time, the law modifies limits on property tax extensions that fund this debt. As a result, if districts take on more debt, local property taxes could increase to cover the additional costs.

The Illinois State Board of Education’s budget for fiscal year 2026 will increase from nearly $10.8 billion to about $11.2 billion. This includes a $307 million boost for K–12 schools, marking the smallest annual increase since 2020.

The agency has paused about $50 million in funding previously allocated through the Evidence-Based Funding formula for the Property Tax Relief Grant while reviewing its impact on local tax relief. Officials say the pause could affect the timing and amount of property tax relief available to taxpayers.

The annual reporting aims to increase transparency and accountability around school debt. Future reports will include 15 years of historical data, allowing residents to track long-term financial trends.

County Rank	State Rank	School District	Outstanding Debt	Percentage of Debt Limit Used	Percentage of EAV Used	Enrollment
1	32	Huntley Community School District 158	$104,480,749	41.2%	5.7%	8,481
2	52	Woodstock Community Unit School District 200	$65,689,604	40.1%	5.5%	6,139
3	84	Johnsburg Community Unit School District 12	$43,221,464	62.5%	8.6%	1,668
4	98	McHenry Community High School District 156	$37,070,258	34.9%	2.4%	2,177
5	159	Prairie Grove Community School District 46	$22,909,181	103.9%	7.2%	867
6	192	Crystal Lake Community Consolidated School District 47	$17,855,000	11%	0.8%	7,020
7	222	Harvard Community Unit School District 50	$15,145,000	32.7%	4.5%	2,494
8	276	Community High School District 155	$11,635,000	4.6%	0.3%	5,334
9	526	Cary Community Consolidated School District 26	$3,031,110	5.4%	0.4%	2,330
10	542	McHenry Community Consolidated School District 15	$2,688,541	2.7%	0.2%	4,031
11	570	Marengo-Union Elementary Consolidated District 165	$2,120,000	9.5%	0.7%	1,085
12	714	Alden Hebron School District 19	$270,000	1.8%	0.2%	411
13	725	Nippersink School District 2	$215,980	0.6%	<0.1%	1,114
14	733	Richmond-Burton Community High School District 157	$177,047	0.5%	<0.1%	531
15	746	Fox River Grove Consolidated School District 3	$107,977	1.1%	0.1%	417