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Chicago – Oak Park and River Forest School District 200 Board of Education has been squirreling away cash for the last 10 years – to the tune of $123 million – and yet they seek to raise property taxes another $8 million on December 20.
“This is the epitome of government greed. At a time when taxpayers could really use a break, they are getting zapped for an absolutely unnecessary and excessive property tax hike,” stated Rae Ann McNeilly, Executive Director of Taxpayers United of America (TUA).
“Fortunately, taxpayers in Oak Park and River Forest aren’t going to take this financial assault lying down. A local activist, Barb Langer, Ph.D., is organizing opposition to this unbelievable move by the Board.”
“We absolutely must stop this unnecessary property tax increase,” stated Dr. Langer. “What could possibly justify an $8M property tax increase when there is currently a $123M surplus and annual operating surpluses continue to accumulate”?
“We are urging residents of Oak Park and River Forest School District 200 to attend the public hearing on Thursday, December 20th at Oak Park River Forest High School, 201 N. Scoville in Oak Park at 7:30 p.m.,” added McNeilly, who is submitting a request to speak on behalf of hundreds of TUA members.
Dr. Langer noted, “We are fortunate to have Barry Jay Epstein, Ph.D., CPA, CFF, a Chicago-based forensic accountant and recognized audit expert, donate his time and expertise in analyzing the SD200 financial data. Dr. Epstein’s analysis clearly shows that a property tax increase is not only unnecessary, but grossly excessive.”
The research and documentation of Drs. Langer and Epstein have been posted on the TUA website.
Brought to you by: Protect District 200 Property Taxpayers
Barb Langer, Ph.D., Founder and Barry Epstein, Ph.D., CPA, Forensic Accountant
Contact: NoNewTax@att.net
The Board of Education (BOE) for Oak Park-River Forest High School (OPRFHS) District 200 (D200) in Oak Park, Illinois, said on November 15 that D200 will pass a 2.5% property tax increase on December 20, 2012, despite having a $123 million cash surplus.
BOE members indicated that while they will hold a perfunctory “Truth in Taxation” public hearing immediately before approving the new levy on December 20, they will let nothing deter them from extracting their annual pound of flesh from D200 households.The only way District 200 residents can stop the BOE from passing the levy is to come and protest in person…
Thursday, December 20, 2012
7:30 p.m.
Oak Park River Forest High School
201 N. Scoville, Oak Park, IL.
Only mass political pressure will have any impact on the BOE. Otherwise, you will face annual property tax increases from D200 forever.
D200 BOE President Terry Finnegan set forth D200’s arguments for the levy in a November 28 article, “Criticism of D200 levy is misinformed.” [i]
Mr. Finnegan took exception to our earlier articles in the Wednesday Journal [ii] and Dr. Langer’s public comment opposing the Levy at the November 15, 2012, D200 BOE meeting. [iii]
We have rebutted Mr. Finnegan’s published arguments in the attached article. [iv] D200 also posted a description of the levy. [v]
Our brilliant forensic accountant, Dr. Barry Epstein, CPA, CFF, [vi] reviewed D200’s published Comprehensive Annual Financial Reports and Projections for the last 10 years [vii] and found no justification for a new levy at this time. [viii]
Dr. Epstein will present a Power Point Presentation at the 7:30 p.m. BOE meeting on Thursday, December 20 at the high school that will be posted here following the meeting. Please come and see him. He’s a great speaker!
Below, after links to related documentation, are Dr. Epstein’s analysis of D200’s financial reports and Dr. Langer’s explanation of why and how D200 can and will pass the levy unless D200 residents come and protest at the December 20 BOE meeting.
Click below to view Dr. Epstein’s analysis, SD200 By the Numbers, and related documentation (some files are large and may take a few moments to download).:
SD200 By the numbers
Dr. Langer’s analysis of SD200’s justification of tax increase
SD200 By the numbers (500 word version)
SD200 By the numbers (800 word version)
Our Rebuttal to D200 BOE President Finnegan’s 11/28/12 Wednesday Journal article
Dr. Langer’s Public Comment at November 15, 2012 D200 BOE meeting
Dr. Langer’s Viewpoints article censored by the Wednesday Journal
Dr. Langer’s report on BOE Pres. Finnegan’s refusal to speak
D200 Pres Finnegan’s Letter denying Dr Epstein’s request to speak on Dec20
D200 BOE President Finnegan’s email declining our request to speak
D200’s Notice of Property Tax Increase
Endnotes:
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i http://www.oakpark.com/News/Articles/11-27-2012/Criticism-of-District-200-levy-is-misinformed/
ii Langer B: Say no to District 200’s new tax levy increase. Wednesday Journal, p. 26, 13Nov2012
Langer B, Thomas V: District 200 rushes levy increase, survey. Wednesday Journal, p. 23, 20Nov2012
iii Dr. Langer’s comments at November 15, D200 BOE meeting
iv Rebuttal to District 200 President Terry Finnegan’s article entitled: “Criticism of District 200 levy is misinformed”
v SD200 Description of 2012 Preliminary Levy
vi http://www.forensicaccountingexpert.com/?gclid=CPaNvu7hl7QCFegWMgodqRkAOQ
vii http://www.oprfhs.org/business-office/Reports.cfm
viii http://www.oakpark.com/News/Articles/12-11-2012/School-District-200-by-the-numbers/
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CHICAGO–The proposed reform of the Ill. government employee pension system, HB6258 is described by some Springfield politicians as “bold,” but is actually lame and largely ineffectual, according to Jim Tobin, President of Taxpayers United of America (TUA).
“The so-called pension reform bill proposed by St. Rep. Elaine Nektriz (D-Northbrook) and St. Rep. Chris Nybo (R-Elmhurst), will not ‘solve’ the problems that will make this government pension system collapse,” said Tobin. “The system is so far in the hole that it is self-destructing and a radical overhaul of the system is absolutely necessary.”
“Shifting the cost of government pensions to local governments, as this bill proposes, would cause havoc for homeowners. The local governments would be forced to sharply increase property taxes. Remember the old-and-true saying: A tax shift is a tax shaft.”
“The current 3% cost of living adjustment (COLA) is compounded which means the annual pension benefits double every 24 years. The ‘golden years’ truly are golden for government retirees make far more than they did when they were actually working. Without eliminating the COLA, we haven’t solved the problem of the ever-increasing pension liabilities. A Harvard study found that the elimination of a 3% COLA eliminates 25% of a pension fund liability.”
“By 2014, because of new accounting standards, the state must reform its method for calculating the value of the pension system’s assets using a 5% return on its pension investments, down from the totally unrealistic current rate of 8%. Any so-called reform that does not calculate the true pension liability using a 5% return estimate is not reform; it is just another political can-kicking exercise. If they miss this mark, the bond market will cut the state off, and Illinois won’t be able to borrow any money at reasonable rates.”
Tobin proposed the following, drastic but necessary, reforms:
- Totally eliminate cost-of-living increases (COLA).
- Contributions to the government teacher pension plans should be increased from 8% to 14%, as they currently are in Ohio, with comparable increases for other government employees.
- Both retirees and current government employees should pay half of their health-care contributions. This would save $230 billion over the next 35 years, a savings of $6.6 billion annually.
- The retirement age should be raised to 67 for full pension benefits.
- In order to permanently eliminate unfunded pension liabilities, we must replace the defined benefit system with a defined contribution system.
“Without these truly ‘bold’ reforms, the Illinois government pension plans will collapse,” said Tobin.
