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Article: New property boosts school district revenue
- Article from:
- Morton Grove Champion (IL)
- Article date:
- September 25, 2008
- Author:
CopyrightCopyright 2008, Morton Grove Champion, Pioneer Press. All rights reserved. REPRODUCTION PROHIBITED. (Hide copyright information)
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Superintendent Gary Zabilka was a little surprised when he saw the increase in the equalized assessed valuation of Park View Elementary School District 70 as the result of new property added to the tax rolls.
In a normal year it may go up about $1 million. Last year new property added about $5, "and we thought that was high," Zabilka said.
But the most recent figures show that new property added $16 million to the EAV. That's particularly rare in an area like Morton Grove that is fully built up.
"I checked back about 15 years and that's the highest ever for the district," Zabilka said. "This area is considered pretty built up."
As a result of the hike in the EAV, which overall is up about 20 ...