In compliance with Cook County Truth in Taxation legislation and as the result of having three small parcels of district property in Cook County, the Burr Ridge CCSD #180 Board of Education held a short meeting on November 2, 2001 to pass a resolution regarding estimated amounts of taxes necessary to be levied in 2001.

Despite an overall levy request of 10.32% to address some assessed valuation increases as the result of new construction, the Board was reasonably certain that the actual tax extension received as the result of this levy will be substantially less than 10%. A levy is only a request, whereas the tax extension, determined by the County Clerk and subject to tax cap legislation, is the real indication of property tax increases. Tax Cap legislation in Cook and DuPage Counties limits the percentage of tax extension increases over the previous year to the Consumer Price Index (currently 3.4%) and a percentage increase in the tax extension proportional to the increase in the school district's equalized assessed valuation caused by new construction.

Superintendent Frank Rink reminded the Board that despite levies reflecting increases of between 11% and 18% over the past five years, the actual property taxes received have increased in the range of 5% to 7%. In fact, as the result of increases in assessed valuation in the school district, taxpayers should see a decrease in the property tax rates for CCSD #180 during the coming tax cycle. A formal hearing on the levy will be conducted on December 4, 2001.