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Politics & Government

Valley View OKs Tax Levy Request

Construction slowdown, appeals and exemptions mean EAV continues to decline

The Board of Education approved a 2011 tax levy request of $149,398,580 Monday, representing a 4.77 percent increase over last year’s figure of $142,590,956.

Taxing bodies adopt levies to request the amount of property tax dollars they need to operate in the subsequent financial year. The funds come from taxes paid by residential, industrial and commercial property owners.

But over the past few years, tough economic times have had a negative impact on property values across the country, as well as for homeowners and businesses in Valley View.

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“We have seen three straight years of property tax decline,” said Gary Grizaffi, assistant superintendent for administrative services at Valley View. "It’s worrisome.”

In 2011, the equalized assessed value (EAV) of property in Valley View decreased 6.53 percent, representing a drop in the growth in EAV from $2,727,656,205 in 2010 to $2,542,679,239 this year.

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“Unfortunately, until something changes, the largest portion (of revenue) comes from property taxes,” Grizzafi said at a previous meeting of the board of education.

According to a breakdown of the district’s 2011 tax levy (posted on the district website), 76 percent of funds with which Valley View operates come from local resources such as property taxes and user fees. State funding makes up about 18 percent and the federal government chips in about 5 percent.

But determining the amount of property tax dollars that must be paid locally to meet the levy requests of taxing bodies is a complicated process, according to Grizaffi.

Grizaffi described the total EAV as a “moving target,” as commercial, industrial and residential property owners have their requests for changes or exemptions granted by the county board of review. Those reductions, although favorable for the property owners who are granted them, will have a negative impact on the tax bills of others.

“Somebody else has to make up the difference when exemptions are granted,” Grizaffi said.

This year, a record number of exemptions and reductions were granted to taxpayers within Valley View School District. According to data posted on the district website, in DuPage Township, which makes up 80 percent of taxable property in the school district, values were reduced by 13 percent as the result of 380 appeal hearings.

In Lockport Township, which makes up 20 percent of taxable property in Valley View, taxpayers filed 400 appeals, the most requests ever, resulting in a $124 million reduction in residential values.

The district's levy request must be filed with the Will County Clerk's office by the last Tuesday in December. Once the actual EAV is determined, the board will likely revisit the levy before it must be finalized on April 1, 2012. Grizaffi said while the board has requested a higher extension than last year, the request will likely decrease when actual property values are known.

"This levy request will most likely be lowered once final property valuations are certified," Grizaffi said in a report to the board of education.

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