At the latest District 204 board meeting, administrators discussed the five-year financial forecast through 2024.
Employee salaries and benefits will continue to be the largest district expense at 75 percent of budget funds.
New homes in D204 helped bring in a higher than average $80.5 million in 2018.
“To put it into perspective, every $10 million in new property is $500,000 in revenue to the district,” said Jay Strang, District 204’s chief school business official.
Within the next five years, construction of new property is forecasted to drop, but revenue from that is projected to remain stable – around $45-55 million.
Assuming the projections go as planned, District 204 property owners could see total tax rates below five percent by 2023.
Naperville News 17’s Antonia Acuna reports.
