Local Property taxes provide 80% of District 67’s Operating Income. The remaining operating revenue for school operations comes from state and federal aid (7%), investment income, lunch fees, textbook rentals, and other revenues (13%).


Property tax income is a result of the tax levy request and various calculations and limitations administered by the County Assessor, local statues, and Illinois State statues. The Assessor determines the value for all real property, which is equalized by county and state multipliers. After the equalized assessed valuation is determined and the tax levy has been requested, the levy is translated into a tax rate.


The total tax rate for 2008 of .965% of equalized assessed valuation is made up of a number of separate Fund rates, since Fund accounting is mandated by law for Illinois Public Schools. The 2008 rates by fund and current District 67 maximum rates are as listed below.

 

Funds
2008 Rates
Current Maximum
Educational
.813
1.380
Operations, Building and Maintenance
.092
.250
Transportation
.012
.120
Fire & Safety Bonds
.0
Fixed
IMRF
.013
None
Special Education
.005
.020
Social Security
.013
-
Elementary School District 103 Bonds
.016
-
Total Tax Rate
.965