Tuesday, October 10, 2017 at 10:30 AM
CPS Loop Office
42 W. Madison Street, Garden Level, Board Room
Chicago, IL 60602
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NOTICE OF PROPOSED PROPERTY TAX INCREASE FOR THE BOARD OF EDUCATION OF THE CITY OF CHICAGO
(COMMONLY KNOWN AS “CHICAGO PUBLIC SCHOOLS”)
I. A public hearing to approve a proposed property tax levy increase for the Board of Education of the City of Chicago (commonly known as “Chicago Public Schools”) for the Fiscal Year beginning July 1, 2017, and ending on June 30, 2018 (“FY2018”) will be held on October 10, 2017, at 10:30 a.m. at the Chicago Public Schools Loop Office, 42 West Madison Street, Garden Level, Board Room, Chicago, Illinois 60602. Any person desiring to appear at the public hearing and present testimony to the taxing district may contact Estela Beltran, Secretary to the Board, Office of the Board, either by mail at One North Dearborn, Suite 950, Chicago, Illinois 60602 or by telephone at (773) 553-1600.
II. The corporate and special purpose property taxes extended or abated for the Fiscal Year commencing July 1, 2016, and ending June 30, 2017 (“FY2017”), were $2,704,467,362. The proposed corporate and special purpose property taxes to be levied for FY2018 are $2,928,997,271. This represents an 8.3% increase over the previous year.
III. The property taxes extended for debt service and public building commission leases for FY2017 were $53,659,111. The estimated property taxes to be levied for debt service and public building commission leases for FY2018 are $53,175,648. This represents a 0.9% decrease over the previous year.
IV. The total property taxes extended or abated for FY2017 were $2,758,126,473. The estimated total property taxes to be levied for FY2018 are $2,982,172,919. This represents an 8.1% increase over the previous year.
Dated at Chicago, Illinois
October 3, 2017
Chicago Board of Education
By: /s/ Frank M. Clark
/s/ Estela G. Beltran
Note: Speaker and Observer registration will be available on October 10, 2017 from 9:00 am – 10:00 am on the 1st floor of the Madison Street lobby.