2024 Referendum
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Financing Plan - Eliminates Need for Tax Rate Increase
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How was the $420 million bond amount determined?
The bond amount is the estimated cost of the highest priority items in the District Master Facilities Plan. These items include safety and security upgrades, critical infrastructure needs, upgrades to Neuqua Valley High School to reintegrate freshmen, and comprehensive improvements at Waubonsie Valley High School, Hill Middle School, and Gregory Middle School.
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What is the math behind the “no tax rate increase”?
The District intends to repay the bonds by using a 37-cent per $100 of Equalized Assessed Value (EAV) levy. 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 bond rate would effectively replace the expiring one.
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How much revenue would the 37-cent per $100 of EAV generate?
If approved by voters, the referendum would provide approximately $25.5 million annually in funding, all of which will go to repay the new bonds.
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What is the tax impact of the tax levy that will expire soon and which would be replaced by the new bond referendum tax levy?
The estimated annual tax impact is $517 for a home with a fair market value of $500,000 for the existing tax levy that will expire.
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Fiscal Stewardship
- History of balanced operating budgets
- “Recognition” status from ISBE, the highest status awarded
- ‘Aa1’ Bond Rating from Moody’s
- Transparent and accountable process
- Annual Budget hearing and budget posting
- Compliant with truth in taxation requirements
- Annual financial and compliance audits
- Current with all required regulatory filings
- Recipient of ASBO “Certificate of Excellence” Award
- All financial documents available at ipsd.org/businessoffice