UPDATED INFORMATION AS OF FEBRUARY 12, 2019
Based on information received from the Office of the DuPage County State’s Attorney’s on February 12, 2019, the Referendum Question on the April 2nd ballot will ask the voters to approve an approximate $1,200,000 reduction in property taxes that are used to provide programs and services to the 1,400 students in District 202.
This communication from the State's Attorney provides Lisle202 with updated information on how they should interpret the referendum.
This is a fairly material change in interpretation from Lisle 202's initial perspective of a ~$2MM per year reduction. The reasons for this difference become fairly clear when one reviews the potential interpretations of this referendum. Without guidance from the County Lisle 202 was prudently proceeding under a worst case scenario and a scenario that the referendum supporters were targeting. These various interpretations are highlighted in the chart below:
IN SUMMARY LISLE 202's CURRENT INTERPRETATION OF THE REFERENDUM IS AS FOLLOWS:
FINANCIAL IMPACT: $1,200,000 / year
TIMING OF IMPACT: Full Year Impact starting in Late 2019 (Fiscal Year 2020)
PERMANENCE OF IMPACT: Permanent reduction of $1,200,000 each and every year
TAXPAYER SAVINGS: ~$67 in property tax savings per year for every $100,000 in market value
GOING FORWARD C4LK WILL REFINE ALL MATERIALS BASED UPON THIS UPDATED INFORMATION
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