(The Center Square) – The Chicago Board of Education has raised its property tax levy to fund Chicago Public Schools, but opponents say property owners are selling and families are at a breaking point.

Board President Sean Harden said the “special” board meeting was held during the school district’s winter break to consider an amendment of the 3.8% tax levy approved last August to 4.78%.

Harden said the board’s action Monday would ensure that the property tax decision was made before the state deadline.

“The tax levy is an essential lever for Chicago Public Schools,” Harden said.

Before the board voted, Chicago Public Schools Acting Chief Financial Officer Wally Stock said CPS ended fiscal year 2025 with a negative cash flow of $339 million, or $485 million worse than fiscal year 2024.

“It’s trending in a wrong direction for us,” Stock said.

Stock said people might be asking how the district could exist in a negative cash position.

“We do that by short-term borrowing, so we’re borrowing against our tax levy before we receive it,” Stock said, adding that Cook County’s property tax filing delays have cost CPS more than $33 million.

Stock said property taxes represent about 50% of the revenue CPS brings in, adding that the Consumer Price Index tax cap limit for a property tax increase in 2026 is 2.9%. He said the amended levy of 4.78% would be reduced by county calculation.

The amended levy is expected to generate $25 million to $30 million in additional revenue.

When asked by board member Anusha Thotakura how many consecutive years the board had raised the tax levy, Stock said it was 20 years or more.

“As long as I’ve been watching CPS and looked back, I mean, 20 more years the board has consistently increased the tax levy,” Stock answered.

Stock admitted that CPS did not yet know where the additional dollars would go. “That’s still a work in progress,” Stock said.

Board member Debby Pope explained her support for raising the tax.

“It’s important to take this levy on because we do not have all the resources we need to provide the high-quality education to every student in CPS that we need,” Pope said.

The former Chicago Teachers Union member, organizer and communications director said CPS is short money on the state formula.

Pope said programs have been cut by President Donald Trump and the federal government.

“We are fighting lawsuits against Trump and the federal government, and fighting lawsuits, as we all know, does not come cheaply,” Pope added.

The Chicago Board of Education consists of 21 members, eleven of whom were appointed by Mayor Brandon Johnson. The other ten were elected to represent individual districts.

Grammy and Academy Award-winning writer and recording artist Che “Rhymefest” Smith was elected to the board last November.

Smith voted against raising the property tax levy, saying it seems as though the city is shifting its financial burden.

“We’re trying to get a few extra dollars from property owners, who in my community I’ve seen have (had) to recently sell their properties because they can’t afford the property taxes,” Smith said.

Despite Smith’s opposition, board members voted 15 to 5 in favor of raising property taxes for CPS.

Board member Angel Gutierrez opposed the measure and said he would be voting “no” on any further Chicago Public Schools property tax increases.

“The families I represent in Garfield Ridge, Clearing and across the Southwest Side are already at a breaking point. Over the past two years, homeowners in our communities have experienced historic increases in property taxes, utilities, food, insurance and housing costs,” Gutierrez said.

Gutierrez said some neighborhoods in his district had average property tax increases of 20% or more this year.

The board’s vote came just over a week after the Chicago City Council passed a budget that sweeps roughly $1 billion in tax-increment financing dollars to CPS.

Illinois Comptroller Susana Mendoza said in a social media post that the Chicago Teachers Union falsely accused fiscally responsible aldermen of wanting to raise property taxes during the budget battle, then CTU’s handpicked board members raised them to the max.

“More taxpayer money for worse student outcomes,” Mendoza posted.

According to Illinois Report Card data, more than half of CPS students are reading below grade level and roughly 75% are falling short of the mark in math. The district’s chronic absenteeism rate is 40% for students.

In a report released Nov. 12, the Chicago Board of Education’s Office of Inspector General found that “severely deficient” travel expense procedures resulted in CPS spending roughly $23.6 million in overnight travel-related expenditures from 2019 to 2024.

Questionable expenditures included CPS staff trips to Finland, Estonia, Egypt and South Africa for “professional development and school visits,” hot air balloon rides and camel rides, out-of-town conferences with flights costing more than $1,000 each and hotel rooms exceeding CPS spending limits.

A CPS travel review committee is expected to consider OIG recommendations and take action by June 30, 2026.

Glenn Minnis contributed to this story.