Schools
Property Taxes To Increase By 5 Percent With District 203 Levy: Report
A tax levy approved by the District 203 Board of Education will increase property taxes by 5 percent, according to Chicago Tribune.
NAPERVILLE, IL — Naperville residents will notice a property tax increase of 5 percent or more in the coming year, now that the District 203 board of education approved a tax levy at its meeting Monday, according to the Chicago Tribune.
Per the board, the tax levy was calculated based on Consumer Price Index, which is 6.5 percent, Equalized Assessed Valuation (EAV) and new construction. Per the tax cap law, the increase is limited to 5 percent. Values for the EAV and new construction were estimated, officials said at Monday's meeting.
The increase means the owner of a $400,000 home would see their tax bill go up by about $330 dollars, according to the report.
Find out what's happening in Napervillefor free with the latest updates from Patch.
Of the eight District 203 board members, Melissa Kelley Black and Donna Wandke voted in opposition to the 2024 tax levy.
Find out what's happening in Napervillefor free with the latest updates from Patch.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
