May 10, 2024
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Woodstock District 200 to see lower tax rate for 8th straight year

Average $200,000 home will see about a $172 reduction in tax bill

By James T. Norman
Library assistant Renee Hagan greats students as they get off the school bus Monday morning, August 15, 2022, during the first day of school at District 200’s Greenwood Elementary School. Many McHenry County area schools return to session this week.

Library assistant Renee Hagan greets students as they get off the school bus Monday, Aug. 15, 2022. Woodstock School District 200 looks to increase its levy, which it expects to still result in a tax rate reduction. (Gregory Shaver — gshaver@shawmedia.com/Gregory Shaver Shaw Media )

Residents paying into Woodstock School District 200 could see their tax rates go down, but might still end up paying more, officials said.

The school board is gearing up to vote on a new tax levy at its Dec. 13 meeting after passing the first resolution for it at its meeting Tuesday. The new levy, while being increased, is expected lower the district’s tax rate for the eighth straight year, according to a news release Wednesday from the district.

The levy resolution tentatively requests about $65.9 million in property taxes, an increase of 3.9% of last year, district spokesman Kevin Lyons said. About 17% of that increase will be taxes collected off new growth in construction.

The remainder is tied to inflation, but because taxable property value across the district increased by about $9 million this year, the tax rate will once again decline, Lyons said.

This year, the state’s tax cap – which restricts how much taxing bodies like school districts can increase their tax levies by each year – allows for a 5% increase tied to inflation.

The falling tax rate means that the owner of a $200,000 home would see their tax bill decrease by an average of $172, assuming the assessed value of home doesn’t change, the release states.

Schools in Illinois make up about 60% of a resident’s property tax bill, Lyons said.

“Over the past several years, we’ve made great strides toward shrinking our construction debt while reducing our tax rate yet continuing to provide the quality education that our students and families deserve,” Superintendent Mike Moan said in the release.

Since 2015, the lowering of the tax rate has resulted in a savings of more than $1,278 over that time, assuming the property’s value stayed the same, the release states.

The tax rate fell from 6.35% to 6.07% per $100 of value of a home, the release states. This was done by using reserve funds to eliminate $5 million in debt.

District 200′s boundaries include Woodstock, Greenwood, Wonder Lake, Bull Valley and unincorporated McHenry County area.