Huntley Community School District 158’s Board of Education, in accordance with the property tax extension law, approved the 1.4% Consumer Price Index (CPI) tax levy increase during its regular board meeting on Thursday, December 16, 2021. The 1.4% tax increase is inflationary and will provide Huntley 158 with additional revenue to cover the operational needs of the District.
“In Huntley 158, we continue to drive innovation while being operationally efficient, reducing costs and maximizing revenues in an effort to ensure our taxpayers are receiving the most value in the state,” said Mark Altmayer, CPA, chief financial officer. “In our District, approximately 61% of our revenues come from property taxes, and we remain mindful of our taxpayers while working to provide an excellent educational environment for our students.”
A homeowner of a $200,000 home who sees an average increase in their property value assessment will have an estimated tax increase of $4.08 per month or $49 for the year. Despite Huntley 158’s low tax base and EAV (Equalized Assessed Value) Per Student, which is a measure of the property wealth on which the District may levy taxes, Huntley 158 has maintained one of the lowest tax rates in the area of 5.26 per $100.
The District has also made significant innovations to maintain and emphasize fiscal responsibility. As one of the greenest districts in the state, Huntley 158 has continued to prioritize energy efficiency with fully functional solar arrays across all three campuses, in addition to an investment in propane buses.
“Our focus is to remain sustainable and meet the needs of the community and students, while being the most efficient district in the state,” said Altmayer.
As the CPI is predicted to trend upward in 2022, the Board is also considering a future debt abatement, which will reallocate a portion of a prior district surplus to reduce the burden on taxpayers in the coming years. The District continues to find ways to lessen the financial impact on our community while being mindful of the educational needs of our students.