High Property Taxes due to District 200 Bond Debt

Take a look at property tax bills over the years.  If you live in Wheaton-Warrenville CUSD 200 you’ll notice the largest and fastest growing portion is for the school District

eav tax rate history D200

EAV ( Equalized Assessed Value) is the product of the assessed value of the property (both land and improvements) and the State Equalization Factor. The EAV value in the above chart is the total for all taxable property in District 200.

 

Tax Levy is the amount of money the school district is requesting for a tax year.  The school board sets a levy to be what they had in the previous year’s base levy plus inflation, plus value for new construction or TIF areas becoming taxable, plus the amount needed to make scheduled bond (principle + interest) payments, round up to ensure taxing to max allowed by law.  The school board set a Levy once per year.

 

The Extension is the total amount of property taxes the county bills to property taxpayers.  It is the lesser of the requested levy and the maximum tax allowed by law.  The base portion is limited to last year’s + inflation + growth.  The portion for bonds is whatever has been contracted for debt services.

 

The tax rate is set by dividing the Extension by the total EAV.

 

The statistics in the chart come from the following documents:

Illinois Department of Revenue (IDOR), Property Tax Statistics by Year.

 

DuPage County Clerk, Property Tax Rate and Extension Reports.

Property value down – Taxes UP / Tax Rate down – Taxes UP

Your property tax is your property’s EAV times the tax rate.  Even when EAV fell (2010 to 2014), because the total EAV fell as well, and the tax extension went up, odds are your taxes went up.  Recently, EAV went up, the tax Extension went up, and the tax rate fell.  For most, taxes went up.  In fact you might notice that taxes always go up.  The only way it will ever go down is if the district stops issuing new bonds and pays off existing bonds.

 

Note: from District 200’s third flyer, they expect you to care about “Tax Rate” rather than your “Tax Bill.”

flyer3 p4 w comment

For project cost, see: https://dupagewatchdog.org/2018/10/how-much-will-a-new-jefferson-really-cost/

From “M Wheaton” FaceBook page,  the attitude of those promoting the referendum:

posted 10/31/2018

you should move 10 31 mywheatonFBPosted 8/21/2018

mindy Jefferson yes attitude

 

7 thoughts on “High Property Taxes due to District 200 Bond Debt

  1. curious how my comment is to be construed as “negative”? because I care, both personally and professionally, about the Jefferson project? if that’s the case, guilty as charged!

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    1. oh wait, it’s because I live in wheaton because of the schools, and because I am happy my tax dollars go to helping my children and the community receive a top notch education. got it.

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      1. Yes Mindy….you had the audacity to increase Ms. Shaw’s costs by bringing your family here. And if you have a special needs kid….well, you really have a lot of gall. She doesn’t want Wheaton to be a Magnet for those damn costly kids, and that’s what a new Jefferson School would do. She said so. Stay away! Now that she is retired and her kids are through the schools on everyone else’s dime, it’s a big problem for her.

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