Tax levy and rate drop, property values expected to rise to $810 million

Taxable values for properties in Woodstock School District 200 are again expected to rise this year.

District officials estimate the equalized assessed value of properties within the district’s boundaries will rise to $810 million in 2017, up from 2016’s EAV of $757.8 million.

District 200 covers Woodstock, Greenwood and parts of Bull Valley, Wonder Lake and unincorporated McHenry County.

This is the third consecutive year property values are expected to rise in District 200, according to documents presented to the school board. Values declined for six years in a row following a peak in 2008 of $1.128 billion.

Higher property values and a decrease in the tax levy will combine to reduce the estimated 2017 tax rate for District 200 property owners from 7.6 percent to just under 7 percent, district documents show.

The Board of Education determined the tax levy Nov. 14, projecting collections of $48.335 million for its operating funds and $8.356 million for debt service, for a total of $56.691 million including abatements. The 2016 tax extension was $57.689 million.

The proposed tax levy means the owner of a $200,000 home would see his or her tax bill from District 200 drop from $4,618 to $4,246 from 2016 to 2017, assuming the home’s value did not change from one year to the next.

“We want to lower the tax rate while still providing a quality education,” Superintendent Mike Moan said.

The tax levy is expected to be approved by the school board at its Dec. 12 meeting. The deadline to file levies with the McHenry County Clerk is Dec. 26.

Taxes set in 2017 will be collected in 2018.

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