The size of the proposed limiting rate referendum is 37 cents per $100 of Equalized Assessed Value (EAV), which equates to about $517 per year in taxes for a home with a fair market value of $500,000. This is the same size tax rate—and tax impact—that is set to expire when IPSD 204 pays off its outstanding long-term debt in 2026. The new proposed limiting rate referendum would effectively replace the expiring one.

If approved by voters, the limiting rate referendum would provide approximately $25.5 million annually in funding.