School Board adopts ‘08 tax levy

By on January 1, 2009

            The School Board proposed a 2008 operating levy of $38,153,948 on Dec. 15. That total is composed of approximately $31 million for the education fund, $3 million for the operations and maintenance fund, $1.4 million for the transportation fund, and the remainder for the retirement, Social Security, special education and working cash funds.

            The tax rate will go down slightly because the equalized assessed valuation projections for Kane County are estimated to be $1 million higher than earlier estimates. This levy represents a 12.1 percent increase over the taxes extended in the operating funds last year.