How much will the referendum cost residents within District 202?
All property owners in District 202 both commercial and residential pay the same tax rate, regardless of the municipality. If the proposed $252.1 million referendum is successful, the estimated tax rate increase would be just eight cents, from the current rate of $1.04 to $1.12, and would not be seen until the 2007 tax bill. The estimated impact on that tax bill would be an increase of: • $43 for the owner of a $175,000 home • $49 for the owner of a $200,000 home • $63 for the owner of a $250,000 home • $76 for the owner of a $300,000 home The increase on the tax bill for the owner of a $250,000 home pencils out to $5.25 per month, or 18 cents per day. District administration has scheduled the sale of bonds so that there would be an initial increase for both homeowners and businesses on the 2007 tax bill, but so the tax rate would remain stable in subsequent years.
