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. 

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.

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.

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.

The current tax ends after the current bonds are paid off in full on December 30, 2026. The new referendum bonds will be structured so there is no overlap between the two taxes. The District, working closely with municipal finance professionals, has developed the financing proposal to ensure a consistent 37-cent per $100 tax rate.