Thanks to inflation, Naperville School District 203 may decide to skip the collection of an additional $82 a year, on average, in property taxes that voters recently agreed to pay for facilities improvements.
This is because in recent years the Consumer Price Index has been very low. The tax cap law in Illinois allows taxing bodies to only increase their rates of collection by 5 percent or the CPI, whichever is lower. Like most taxing bodies in recent years, D203 estimated a low CPI of 2.5 percent. It turns out, the CPI is looking like 4.1 percent, which means D203 and other taxing bodies can collect more than they predicted.
It would appear, then, the D203 officials intend to take responsible action and forego collection of the additional amount they could have collected next year, thanks to the recent referendum. This action may be motivated by criticism the district endured after it overcollected taxes following a 2002 tax-hike referendum.
The board is scheduled to consider this action on March 17. This would forego only the higher taxes during the first year of the 20-year bond issue that voters agreed to.
What do you think it means? Should taxpayers cheer administrators and the school board for acting responsibly? Or are administrators and the school board deserving of criticism because their estimates were so far off and revenues are much higher than expected?