Safer, Stronger 204
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Financing Plan - Eliminates Need for Net Tax Rate Increase
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What is the math behind the “no net tax rate increase”?
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.
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How much revenue would the 37-cent per $100 of EAV limiting rate generate?
If approved by voters, the limiting rate referendum would provide approximately $25.5 million annually in funding.
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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