Last evening, the 220 Board of Education held a public hearing for the tentative 2019 tax levy, which determines how much taxpayer money the district will receive in 2019. 220 collects property taxes from Kane, Lake, Cook and McHenry Counties, and property taxes account for more than 80% of the district’s annual operating revenues.
The district expects to receive a 2.34% tax increase compared to last year, however it is requesting a 4.4% increase, in case new construction is larger than expected. Based upon projections, excluding bond and interest, the total expected tax revenue for 2019 is $126,156,200.
The Board is anticipated to approve the tax levy at its next meeting on December. 17th.
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