BBCHS Board OKs tentative 2024 tax levy

BRADLEY — The taxing rate that will determine the 2024 levy for Bradley-Bourbonnais Community High School is going down, but taxpayers will still see their bills going up.

On Monday, the BBCHS District 307 School Board OK’d preliminary numbers for the district’s 2024 tax levy.

The district will be requesting an increase of 4.99% over the prior year’s tax extension, for a total levy request of $19,641,777.

The district’s taxing rate decreased by almost half from its 2023 rate of nearly 10%.

“It doesn’t mean that you are paying less,” said Ramie Kolitwenzew, chief school business official. “Because your property value is increasing, but the rate at which the district is assessing is decreasing.”

Although the district’s taxing rate is going down, the owner of a $200,000 home would see roughly a $50 increase on their tax bill.

The referendum that passed in the general election earlier this month, which will fund $62 million toward $70 million total in building upgrades through bond sales, will help with the district’s facility plan, Kolitwenzew noted.

However, the district still has operating expenses, she said.

About 58% of the district’s operating budget comes from property taxes.

Last year, it levied for about $19.2 million, but it received about $18.7 million.

“Even if we tax at the exact same percent, the exact same rate, your property taxes would go up,” Kolitwenzew said. “And the reason why your property taxes go up, and the reason why you pay more is because [home values have also increased].”

Kankakee County is subject to tax caps, meaning tax levy increases are limited to the change in the consumer price index for the month of December the year prior, or 5%, whichever is less.

The CPI was 3.4% for December of 2023.

Other variables used to calculate the levy include the anticipated equalized assessed value for the area, which is 7.5%, and the value of new construction growth in the area, which is estimated at $10.4 million. Both figures come from the county assessor’s office.

Districts typically ask for an amount greater than the tax cap or CPI in order to capture all possible funds for their schools.

For the past two years, the rate-setting CPI had spiked above 5% due to high inflation.

BBCHS’s taxing rates were 9.26% in 2022 and 9.84% in 2023, though its increases were still limited to 5%.

“There is zero room for error in our levy,” Kolitwenzew said.

The district also completed significant capital projects over the past two years, such as building-wide HVAC upgrades, with both ESSER money and reserve funds used.

The capital projects also contributed to the higher taxing rates, she said.

“What we’re proposing this year brings us back down,” she said.

With the CPI returning to average levels, the rate is now back in line with a typical levy increase. In 2021, the rate was 4.94%.

“Obviously, nobody likes big shifts in what they pay in taxes,” added Superintendent Matt Vosberg. “This is obviously more in line with historical averages of what your levy would increase. So we’re happy with that.”

The board set a levy hearing for 5:45 p.m. Dec. 16, before the final 2024 levy is approved.

https://daily-journal.com/news/bbchs-board-oks-tentative-2024-tax-levy/article_70750554-a138-11ef-b42b-f3cb25cf696a.html