 Tax levy estimate presented to Board November 11, 2013 {law requires at least 20 days before hearing/adoption}  December 5, 2013 publish public notice of hearing and adoption for December 16 th Board Meeting  December 16, 2013 public hearing prior to board adoption

 Property tax cap limits actual tax increase over the prior year extension to lesser of 5% or Consumer Price Index (CPI-U) of prior calendar year.  CPI-U as of 2012 was 1.70%  New property is allowed and can help to increase final extension  Levy request excludes Debt Service which is automatically extended by County Clerk

 Prior year tax extension = $48,968,556  Tax Levy Request for 2013 = $51,368,014  Percent increase = 4.90%  Actual Property Value (EAV) and New Property is unknown at time of Levy  Request is higher than CPI because of this unknown and more accurately reflects financial need  Tax Extension of current year becomes base for future years

 Likely to only receive approximately 2% {CPI of 1.70% plus 0.30% for New Property}  Estimated Tax Extension for 2013 = $49,947,927 or increase of $979,371  Property tax revenue = 79% of budget  Tax revenue not keeping pace with operating expenditures – two years of deficit spending  Final Tax Extension released March 2014

PROPERTY TAX EXTENSION HISTORY FISCAL YEAR >>>>>[ ][ ][ ][ ][ ][ ] EXTENSION LEVY YEAR >>>>>>> verifiedYYYYYY 1EDUCATIONAL$33,648,389$35,227,848$35,148,991$36,482,488$37,073,935$38,269,101 1SPECIAL EDUCATION$554,936$580,041$585,817$602,990$613,253$631,547 2OPERATIONS & MAINT.$5,403,148$5,645,736$6,028,017$5,806,570$5,921,266$5,912,856 3TRANSPORTATION$1,940,614$2,028,387$1,826,777$1,965,301$2,018,747$2,084,104 4I.M.R.F. PENSION$774,252$808,543$880,458$918,842$927,215$1,052,578 5SOCIAL SECURITY/MEDICARE$754,314$787,450$842,328$883,747$889,070$1,018,369 6WORKING CASH$0 7HEALTH / LIFE SAFETY$0 8OPERATING FUNDS SUBTOTALS$43,075,653$45,078,006$45,312,388$46,659,937$47,443,487$48,968,556 9OPER. FUNDS $ CHANGE $2,002,353$234,381$1,347,550$783,549$1,525,069 10OPER. FUNDS % CHANGE 3.13%0.50%2.97%1.68%3.21% 11DEBT SERVICE$4,758,492$5,273,104$5,972,555$6,352,132$6,346,729$8,881,126 12$ CHANGE$1,593,640$699,452$379,577($5,403)$2,534, % CHANGE33.49%11.01%6.36%-0.09%39.93% 14TOTAL LEVY/EXTENSION$47,834,146$50,351,110$51,284,943$53,012,070$53,790,216$57,849,682 15TOTAL $ CHANGE $2,516,964$933,833$1,727,127$778,146$4,059,466 16TOTAL % CHANGE5.26%1.85%3.37%1.47%7.55% 17TAX RATE EXTENSION “Game Changer” CPI of 0.10% severely limited funding for District beyond FY2011

DUPAGE COUNTY HIGH SCHOOL DISTRICTS District2012 EAV Total Tax 2012Educ.Debt Svc. Oper. & Maint. IMRF PensionTransp. Health / Life Safety Spec. Educ. Tort (Liability) Soc Sec / Medicare Working Cash Hinsdale #865,004,192, Downers Grove #994,024,551, Fenton #1001,129,860, DuPage #882,631,444, Glenbard #875,050,420, West Chicago #941,058,659, Lake Park #1081,937,590,

 Information is available on District 88 website, from Business Office link  Includes historical trends and comparative charts  Includes additional information to address common questions regarding the property tax levy

Questions?