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 ( 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.
- Table 27 – Taxing Districts Summary of Funds
- Table 28 – Taxing Districts Valuation, Rate and Extension Table
- IDOR District ID for CUSD 200 is 0220227262000.
DuPage County Clerk, Property Tax Rate and Extension Reports.
- Value Per District
- Tax Extension per District Report
- DuPage County Clerk ID for CUSD 200 is 53750000.
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.”
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: