Lower Tax Bill Coming After OPRF Board Approves Abatement

Residents in Oak Park and River Forest can expect lower tax bills in 2014 from District 200 because of the board's action on the tax levy earlier this week. 

The school board approved a tax abatement of about $2.4 million, the entire amount of the bond and interest levy, part of the district's tax extension that was approved Dec. 20. 

"The abatement was brought forward in an effort to provide some relief to taxpayers without affecting the district’s ability to levy in the future," according to a district news release.

With approval of the abatement, District 200 will transfer money from the working cash fund to its bond and interest fund to pay its debt this year. This is a one-time reduction of the tax bill followed by a larger increase when the bond and interest portion returns to the tax bill.

However, the district says the overall impact will be a reduction in taxes compared to no abatement at all. A resident with a home value of about $315,000 will experience a property tax reduction from the 2011 property taxes of about $55, the news release stated. This reduction is from the Oak Park and River Forest High School portion of the tax bill only and does not affect any other portion of the tax bill.