Franklin — School district taxpayers are likely looking at a flat tax bill for the 2014-15 school year.
Last week at the district's annual meeting — where taxpayers have the power to vote on a district tax levy — the school board unanimously approved a zero increase in the tax levy compared to the 2013-14 school year.
The total tax levy is estimated at $32.8 million with an estimated tax rate of $13.26 per $1,000 of assessed value.
A Franklin taxpayer with a home valued at $238,000 — roughly the median Franklin home value, according to the census — would pay about $3,155 in school district taxes, based on that estimated tax rate.
"When we look at the fiscal part of our district and how we run, I think our community can be very proud of what we do and how well we do it," said Superintendent Steve Patz. "Education costs money, but I think we've been able to take the dollars we've had available to us and, over time, build a strong financial base."
The school district predicts that state equalization aid will increase by approximately $410,000 due to a 3.5 percent drop in equalized value last year — allowing for the tax levy to remain the same.
The approved tax levy is based on tentative estimates. A final tax rate will become available in the fall.
Your link to the biggest stories in the suburbs delivered Thursday mornings.
Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter Get the Newsletter!
- Recall committee calls Franklin alderwoman a 'wicked witch' in flier
- Franklin High School seeks preschool-ready children
- Academy of Performing Arts to move its Franklin location
- Franklin Health Dept. asks residents to check home for radon levels
- New scholarship available to Franklin students pursuing careers in the arts
- Franklin police report: March 26, 2015 issue
- Kayla's Krew gets caught in middle of playground fight over site options in Franklin
- Pleasant View Elementary seeks graduate memories for 50th anniversary
- Franklin mayor vetoes Froemming Park location for Kayla's Krew, calls for special meeting
- Franklin targets Froemming Park for Kayla's Krew playground, county approval uncertain