MINOOKA — Minooka Community High School District 111 passed a motion at its meeting on Thursday, March 7, 2013, to abate a portion of the funds it is owed by Will County as a result of an adjustment to the county’s prior year property taxes.
When tax bills were issued in the spring of 2012 to the portion of MCHS District 111 that resides in Will County, the tax rate and amount collected was below the amount due to the district.
When Will County calculated tax bills for 2012, it had to do so by using estimates of value for the other two counties, Grundy and Kendall, because certified values were not completed. When the certified values came in, they were lower than anticipated and the difference resulted in a shortfall for the school district at a total of $338,426.
If MCHS District 111 had collected the total amount due it, the tax rate for that portion of Will County would increase an additional $0.05 over the projected amount of $2.338 for the bills that will be issued this spring. Instead, the MCHS District 111 board voted March 7 to partially abate $167,275 of those funds. Based on estimates, the revised tax rate for district residents who reside in Will County is projected to be $2.366 (with the adjustment) and is similar to last year’s rates in Kendall and Grundy Counties (both counties’ rates were $2.36).
“The MCHS District 111 Board of Education understands its responsibility to serve as good stewards of tax payer dollars,” Board President Chris Kobe said.
“We are abating a portion of taxes owed to our district by Will County in an effort to minimize the impact on homeowners.”
The partial abatement serves as the district’s latest example of exercising fiscal responsibility while not impacting students and services. The district is also currently in the first year of a two-year, $2 million expenditure reduction program designed to lower expenditures and limit the spending of the district’s reserve funds.