CPS To Request Max Property Tax Levy For Second Straight Year

By Chuck Sudo in News on Jun 28, 2012 5:20PM

Chicago Public Schools announced Wednesday they would seek the maximum property tax levy in order to help cover a budget deficit of nearly $700 million and cover the costs to implement a longer school day. This despite not having announced a budget yet for the upcoming school year

It's the second straight year CPS has called for a maximum property tax levy, after four years without a hike. Last year's maximum levy helped to balance a $712 million budget deficit, along with tapping into $241 million in reserve funds and eliminating $100 million in pay raises to teachers and other union workers.

If the new levy is approved it's expected to generate an estimated $41 million for the school district, and add an average of $28 to Chicago property tax bills. School Board officials cite the loss of $114 million in federal and state funding as the reason for the levy. School Board President David Vitale said in a statement the levy would help preserve "our commitment to class size, the full school day and early childhood development."