What is the tax impact on the median home over the years?
A $132.5 million bond measure would initially cost the homeowner of a median home an additional $180 per year on the Bond & Interest portion of their tax bill. The homeowner of a median home currently pays $712 towards Bond & Interest (debt). With the proposed bond sale, that same home would pay $906 in 2018, $903 in 2019, $855 in 2020 and will continue going down to $531 beginning in 2027 through 2036.
- Reflects expected debt service after refunding of 2008A and 2009D Bonds.
- Includes $6,000 homeowner exemption. Homeowners may qualify for other exemptions not reflected in the analysis.
- Analysis assumes District EAV increases of 2.75% in 2016 and 2017 and 0% thereafter. Assumes value of home remains constant throughout life of proposed bonds.
- Rates based upon market conditions as of December 6, 2016 plus 0.50%.
The illustrations are intended to estimate the increase in the bond portion of the tax bill only assuming a successful referendum. Does not include property taxes paid to other governments (e.g. City, Park District, County, Forest Preserve, etc.). Actual tax rates and payments may vary based on equalized valuations growth, individual homeowner reassessment, State Law changes, property tax rate initiatives, and other factors, as well as changes in the assumptions.
This Information was prepared by PMA Securities, Inc. (“PMA”), as Financial Advisor,at the request of, and is being provided to, the listed school district (the District) for its Institutional Investor Use to provide factual information to its taxpayers and the general public as part of a referendum being placed on a bond ballot election. This information is being provided for informational and/or educational purposes only without regard to any particular viewer’s financial situation or means. The content of this information is not to be construed as a recommendation by PMA that the viewer take an action or refrain from taking an action, or as a solicitation or offer to buy or sell any security, financial product or instrument. Nor does it constitute any legal, tax, accounting or investment advice of services regarding the suitability or profitability of any security or investment. Viewers should consult with their own tax and/or legal advisors before making any decisions.
Although the information contained in this Information has been obtained from third-party sources believed to be reliable as of the date hereof, PMA cannot guarantee the accuracy or completeness of such information. It is understood that PMA is not responsible for any errors or omissions in the content in this document and the information is being provided to you on an “as is” basis without warranties or representations of any kind. Moreover, use of this information after the date hereof is subject to change.