Taxing bodies filing requests for property tax revenue to fund expenses for 2025-26
Village, library and school boards in Hinsdale are in the midst of approving tentative levies — or annual requests for property tax revenue — before the final levy is adopted in December.
The levy requests will be submitted to the clerks in DuPage and Cook counties, who will translate them into tax rates that will appear on homeowners’ bills in 2024.
Charts breaking down each of the levies, with an explanation of the taxing cycle and a glossary, are on Page 5.
Village of Hinsdale
Hinsdale trustees will request about $9.1 million in property taxes for the 2024 fiscal year, although that will be after $3.2 million is returned to taxpayers in the form of abatements.
At a village board meeting Nov. 7, officials held a first read of the levy plan. Trustee Matt Posthuma, chair of the board’s administration and community affairs committee, said the village will cover principal and interest payments on six bond issuances from alternative revenue sources. But the village is still required to levy property taxes for those costs.
“We’ll pass six separate resolutions abating the taxes for those payments on those six bond issuances,” Posthuma explained.
The net levy of $9.1 million is an increase of 4.14 percent over last year, with an allotment for new growth as allowed under the state’s tax cap. Because the increase is less than 5 percent over last year’s tax receipts, the village is not required to hold a public hearing on the measure. About $8.7 million of the levy amount is subject to the tax cap.
The village combines its levy with that of the Hinsdale Public Library for a total request of slightly more than $12.9 million. Officials reported that property tax revenue funds about 43 percent of the village’s general fund.
Formal adoption of the levy will be on the board’s agenda at its Tuesday, Nov. 19, meeting.
Hinsdale Public Library
Hinsdale Public Library trustees in September approved a property tax levy request of $3.8 million for 2024 fiscal year. Because the library is not its own taxing district, the amount will be added to the village’s levy resolution, bringing the combined proposed levy for both entities to $12.9 million.
The amount represents a increase of about 4.2 percent over last year’s tax receipts. It is calculated by taking the consumer price index of 3.4 percent, the limiting figure under state tax cap law, plus an allowance to capture $16.33 million in estimated new growth.
John Bloomfield, library board president, said the board’s strategic plan has guided their levy decisions.
“We’re almost three years into our strategic plan, which was the result of extensive community input. That plan directs us to meet the growing demand for digital and physical items, build on our popular new programs, and make our spaces more accessible, flexible and comfortable,” Bloomfield said. “We’re fortunate to operate out of a beautiful historic building, but that also means we need to maintain capital reserves to fund maintenance projects like replacing electrical panels and portions of our roof.”
He said officials review estimates of capital needs each year and, in consort with operating budget considerations, determine the levy request. Property tax revenue funds 98.8 percent of library operations.
District 86
The $104.4 million levy for capped funds in Hinsdale High School District 86 represents an increase of about 3.4 percent from the $100.2 million collected last year.
That’s about 1.6 percent smaller than the 5 percent increase allowed last year. Had the cap been 5 percent this year, it would have meant roughly $1.6 million more in property tax revenue, said Josh Stephenson, chief financial officer.
Capturing the allowable increase is important, as local revenues — including property taxes — make up 93 percent of district revenue. And federal and state dollars have not kept pace with the rising cost of living.
“The only revenue source that we have that actually is moving somewhat in line with inflation is property taxes,” Stephenson said. “When we have increases in salaries and benefits and energy and transportation and things like that driving our expenses higher ... the only component that allows us to continue to provide the same level of service year over year is that property tax increase.”
The board approved the estimated levy 6-0 at its Oct. 24 meeting and plans to adopt the official levy when it meets Thursday, Dec. 12.
District 181
All school districts rely on property taxes, but they make up an even greater percentage of the budget in District 181, said Mindy Bradford, assistant superintendent for business and operations for District 181.
“We’ve been identified within the state evidence-based funding model as a Tier 4 school, meaning we are able to contribute more local funding than some schools are,” she said.
State and federal funding total less than $4 million a year, and property taxes make up 90 percent of district revenue.
Even with such a heavy reliance on property taxes, district officials said they do their best not to collect more than they need. The board typically abates, or tells the county clerk not to collect, a portion of its levy each year.
“I think it shows our efforts to really try to use the funds that are essential to running the district in a transparent manner,” she said. “We levy the funds but we build in our assumed abatement.”
The district has abated $21.1 million in taxes over the last seven years. Abating taxes, rather than lowering the levy, provides more flexibility, as the levy increase each year is based on the amount of taxes levied the previous year.
Bradford said she’s been impressed by the financial stewardship in District 181 since coming here 18 months ago.
“I hope that the community feels that we work really hard to be fiscally responsible,” she said. “We think that we do provide outstanding value. We’re one of the highest performing districts in the state.”
