“At its Dec. 15 meeting, the Board gave final approval to its share of the local property tax rate for 2020. Barrington 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.
Based on CPI tax cap limits and capturing new construction in the tax base, the district expects to receive an overall 2.5% tax increase compared to last year, however it is common for school districts to request more than expected in case new construction in the tax base is larger than anticipated. For this reason, Barrington 220 has requested a 4.4% increase to ensure new construction is taxed fairly for all taxpayers. The actual increase will not exceed CPI plus the amount associated with actual new construction.
Based upon projections, excluding bond and interest, the total expected tax revenue for 2020 is $129,637,470.”
Merry Christmas to the education oligarchs.