New Lenox School Board Approves “Balloon” Tax Levy; Actual Increase Expected at 4.7%

New Lenox School District 122 Board Meeting | Nov. 2025

Article Summary:
The New Lenox School District 122 Board of Education approved its 2025 property tax levy following a public hearing. While the district is legally requesting a 5.95% increase to capture all potential new property revenue, officials project the actual extension will result in a 4.7% increase due to tax caps.

Tax Levy Key Points:

• Balloon Levy Strategy: The Board approved a levy request of $61.8 million to ensure the district captures revenue from all new property development, though they only expect to receive $61.1 million.

• Projected Impact: The owner of a home with a market value of $450,000 can expect an estimated increase of approximately $173 on the school district portion of their tax bill.

• Inflation Factor: The levy calculation is based partly on a Consumer Price Index (CPI) of 2.9%.

• Public Hearing: A public hearing was held regarding the levy at 6:00 p.m., yielding no public comments.

The New Lenox School District 122 Board of Education on Tuesday, November 18, 2025, unanimously approved the 2025 Certificate of Tax Levy, utilizing a “balloon levy” strategy to maximize revenue from new property development while remaining bound by tax cap laws.

Chief School Business Official Robert Groos presented the data, explaining that while the district is requesting $61,849,765—a 5.95% increase over the prior year—they do not expect to receive that full amount. The “balloon” amount is designed to ensure the district captures tax revenue from an estimated $37 million in new property development within New Lenox. If the new property value comes in lower than the levy request, the county clerk will automatically reduce the extension to the legal limit.

“We always recommend levying for more than is expected just in case the estimated property values provided by the county in August come in higher than expected during April,” Groos noted in his report. “A district cannot collect funds not levied for.”

The actual expected operating tax extension is approximately $61.1 million, representing a 4.7% increase over the 2024 extension. Of this increase, $1.7 million is attributed to the 2.9% rate of inflation, while $1.1 million is attributed to new property.

Groos presented data estimating that for a home with a market value of $450,000, the school district portion of the tax bill will increase by approximately $173. This estimate assumes an overall Equalized Assessed Value (EAV) increase of 6.25%.

The board also approved resolutions to levy taxes specifically for the Illinois Municipal Retirement Fund (IMRF), Social Security, Special Education, and Fire Prevention and Safety purposes.