School Finance 101
Illinois School Finance can be an extremely complex topic. Understanding the basic components can be helpful in being informed about how your tax dollars are being used.
The information included on this page is intended to assist in clarifying how school finance works and how Lisle 202 utilizes your tax dollars.
Top 5 Finance Take-Aways
- School district funding in Illinois is structured so the majority of dollars come from local property taxes.
- Lisle 202 property tax rates are comparable with surrounding school districts.
- Lisle 202 has operated within a balanced budget for 16 consecutive years and is recognized for its financial strength by the Illinois State Board of Education and Moody's.
- Lisle 202 has smaller class sizes compared to surrounding districts and a smaller student population. Both factors contribute to our per pupil spending being higher than other larger districts.
- Lisle 202 built a new state-of-the-art elementary school without increasing the tax rate for the new building.
School District Revenues
In Illinois, the majority of school district revenues come directly from local sources, specifically property taxes. In Lisle 202, local sources account for approximately 90% of the District's revenue.
There are three main sources of revenue. Those sources are:
- Local Property Taxes
- State Programs
- Federal Programs
There are eight major funds in Lisle District 202's budget.
- Operations and Maintenance
- Debt Services
- Municipal Retirement/Social Security
- Capital Projects
- Working Cash
The largest fund is the Educational Fund.
The Educational Fund covers expenditures for instruction related items, but not limited to, student instruction and programs, teacher training and salaries.
Expenditures related to building improvements are not included in the Educational Fund.
Operations & Maintenance Fund
This fund supports maintenance, improvements, and repairs of the school buildings.
Lisle 202 is conscientious of the impact of taxes on individuals and businesses in the community. Annual increases have been consistent with the U.S. Consumer Price Index to cover the rising costs of expenditures. The average annual increases have been 1.4%, or $60, for the average household in Lisle for the past five years.
Your property tax bill is divided into several parts such as the Village of Lisle, Lisle Library, Lisle Park District, etc. One part of your total tax bill goes to the school district.
How does the tax rate work?
The cost of providing an education to students is allocated to the values of properties within Lisle District 202 and collected annually on June 1st and September 1st.
What is the Lisle 202 tax rate?
The Lisle 202 tax rate is about $5.00 per $100.
How does the Lisle 202 tax rate compare to surrounding districts?
The Lisle 202 tax rate is comparable to neighboring school districts.
|Tax Rate||School District|
|$6.09||Woodridge Elementary District 68 & Downers Grove HS District 99|
|$5.84||Glen Ellyn District 89 & Glenbard HS District 87|
|$5.63||Glen Ellyn District 41 & Glenbard HS District 87|
|$5.31||Indian Prairie District 204|
|$4.96||Lisle District 202|
|$4.91||Naperville District 203|
|$4.83||Wheaton-Warrenville District 200|
|$4.51||Westmont District 201|
|$3.86||Downers Grove Elementary District 58 & Downers Grove HS District 99|
per $100 of property's assessed value