District Proposes “Balloon Levy” to Capture Expiring TIF Revenue

Crete-Monee School District 201-U Meeting | November 2025

Article Summary: The Board of Education discussed the 2025 Tax Levy, opting to request a higher amount than expected to ensure the district captures all potential revenue from the expiring Monee TIF 3 and new construction.

2025 Tax Levy Key Points:

• Levy Request: The district is requesting a total levy of approximately $85.4 million.

• Estimated Extension: The district anticipates actually receiving approximately $71.6 million.

• Tax Rate: The tax rate is expected to decrease by roughly 4% due to rising property values.

• Public Hearing: A Truth-in-Taxation hearing is scheduled for December 9, 2025.

The Crete-Monee School District 201-U administration presented its preliminary 2025 Tax Levy on Tuesday, November 18, 2025, outlining a strategy to maximize revenue from expiring Tax Increment Financing (TIF) districts.

Director of Finance Brian Johnson explained that the district will use a “balloon levy” strategy. This involves requesting a levy increase significantly higher than the 5% cap—specifically to ensure the district captures all new revenue from the expiration of the Monee TIF 3 district, which is estimated to bring in $1.48 million in new revenue.

“We are asking for a percentage above 5% just to make sure any new revenue available through that TIF rolling off we absorb,” Johnson said. “If we miss that opportunity, you’ll have someone else giving this presentation next year.”

Despite the high request, the district is limited by the Property Tax Extension Limitation Law (PTELL), which caps the extension at the Consumer Price Index (2.9%) plus new property. The Will County Clerk will determine the final extension amount in the spring.

Johnson noted that while the levy amount is increasing, the district’s Equalized Assessed Value (EAV) has surpassed $1 billion, which should result in a lower tax rate for property owners. Estimates show a homeowner with a $150,000 home could see an approximate $58 increase in the school portion of their tax bill.