D100 referenda

[Ted]

The text of the 2 south Berwyn school district 100 referenda have been posted on the Cook County Clerk's site.

  The district is putting two referenda on the ballot on the March 18, 2014 election.

One referenda asks to increase the base tax rate by $1.40. That will bring in an additional $6 million dollars in revenue, according to the referendum.

  The current base tax rate is $2.906 and this will increase the base tax rate to $4.306, an increase in the base tax rate of 48%.

  The second referenda asks the voters to approve a building bond of $51 million dollars to re-build Hiawatha and do building improvements and extensions on other school buildings.

One note - the housing value in the referenda is based on the Cook County Assessor, not on what you may think your house is worth on the open real estate market.

  To compare, go to your tax bill, look at the assessed value and multiply by 10.  That is the equivalent you should be comparing to. The Asssessor's office seems to have an inflated value compared to what the current real estate market is actually selling at (mostly due to foreclosures and short sales).

[Ted]

TAX RATE REFERENDUM:

Shall the limiting rate under the Property Tax Extension Limitation Law for South Berwyn School District Number 100, Cook County, Illinois, be increased by an additional amount equal to 1.400% above the limiting rate for any purpose of said School District for levy year 2012 and be equal to 4.306% of the equalized assessed value of the taxable property therein for levy year 2014?

   (1) The approximate amount of taxes extendable at the most recently extended limiting rate is $12,767,649, and the approximate amount of taxes extendable if the proposition is approved is $18,923,179.

   (2) For the 2014 levy year the approximate amount of the additional tax extendable against property containing a single family residence and having a fair market value at the time of the referendum of $100,000 is estimated to be $393.
   
   (3) If the proposition is approved, the aggregate extension for 2014 will be determined by the limiting rate set forth in the proposition, rather than the otherwise applicable limiting rate calculated under the provisions of the Property Tax Extension Limitation Law (commonly known as the Property Tax Cap Law).

[Ted]

BUILDING BOND REFERENDUM:

Shall the Board of Education of Berwyn South School District Number 100, Cook County, Illinois, improve the sites of, build and equip additions to and alter, repair and equip existing buildings and issue bonds of said School District to the amount of $51,500,000 for the purpose of paying the costs thereof?

[Ted]

  In a June COW meeting, the bond guy gave estimates for the tax rate increase for various building bond options:

4. Capital Bond referenda - The Bond Guy presented details of what a 20 year capital bond would cost.  The principle would be between $35 million dollars to $50 million dollars. A $35 million dollar bond would increase the tax rate by 47 cents,  so the numbers would be similar to a 50 cent tax rate rate increase. Taxes per household would increase between $106 dollars to $246 dollars for houses valued between $100K to $200K; A $40 million dollar bond would increase the tax rate by 58 cents and would increases taxes per household $137 to $303 dollars.  A $45 million dollar bond would increase the tax rate by 68 cents and taxes between $154 to $355 dollars.  A $50 million dollar capital bond would increase the tax rate by  78 cents and would increase taxes between $177 to $408.


  Given the above information, the total rate (both base and bond debt) would increase by $1.40 + $0.78 = $2.18.
The total tax rate (both base and bond) would increase from $3.645 to $5.825.

  Given the information in the referenda about a house of assessed value of $100,000 having the base tax rate increase taxes by $393 and given the assessed value of my house is $160,000, I have estimated that my taxes for D100 will increase (when both referenda are considered) by $979,   from $1377.92 to $2357.05.

  The first referedum (the base tax rate referendum) will increase my taxes by $629.  The second referendum (the building referendum) will add on another $350 in taxes.

  That's a 71% increase in the taxes I would pay into District 100.

  I hope D100 has a good story to try to sell this kind of tax increase to the voters!

[Ted]

  One other confusing note.  The referendum indicates the tax rate increase for levy year 2012 but the fair market value is based on the assessed value in levy year 2014.

I don't know how we are supposed to guess what our assessed value will be in levy year 2014?  In my calculation, I used the assessed value of my house in levy year 2012.

  If the assessed value in levy year 2014 increases, then I would be underestimating the tax increase and the tax increase would probably be over $1000.

[Ted]

   See you in the referendum section. (Damn we will probably agree there and that's no fun for either of us!)

Actually, I haven't decided yet on the referenda.  But I have told several DACEE members that they are asking for an awful lot of money. 

I have talked to several people in the last few days about the referenda and they didn't realize the size of the increase.  They all were taken aback at how much it would increase taxes.

I doubt most people in Berwyn realize that if the referenda pass, it will increase their taxes by between $800 to $1300.

Heck, there are probably a lot of people in Berwyn who don't even know that there are two referenda on the ballot for the March election.

[Good Time Charlie]

That's why it'll probably pass. If the schools need the money then it is what it is.

[buzz]

  Heck, there are probably a lot of people in Berwyn who don't even know that there are two referenda on the ballot for the March election.

True.

[buzz]

That's why it'll probably pass.

Don't be so sure about that.

[mustang54]

  It hasn't got a chance in hell of passing.

[Ted]

This is what I was wondering - There are not going to be a lot of Democrats coming out to vote because there are no races in the Democratic primary. 

  Yet, there will be a lot of Republicans coming out because of the governor's race.  So, does the chances of the referenda passing decrease because there will be more Republicans voting on March 18?

Or, is the expectation that there will be a low voter turnout overall and with typical Berwyn apathy, the referenda supporters will get out the vote with a low voter turnout?

  And, does the amount of the increase matter?  Will supporters vote no matter what even if the tax increase is $1,000?

[mustang54]

  Ted you know all too well that school referendas have a hard time passing anywhere no matter what other elections are taking place. People feel taxed to death and are not going to vote to raise their own taxes. It really doesn't matter who is running for what or from what party. If places like Barrington and Winnetka can't pass them either will Berwyn or Cicero or the vast majority of towns.

[Ted]

  Ted you know all too well that school referendas have a hard time passing anywhere no matter what other elections are taking place. People feel taxed to death and are not going to vote to raise their own taxes. It really doesn't matter who is running for what or from what party. If places like Barrington and Winnetka can't pass them either will Berwyn or Cicero or the vast majority of towns.

I agree, but I think it even decreases the chances.  I remember that in February, 2007 primary, the D201 referendum was the only thing on the ballot. 

  Yet, 2900 people came out to vote in that election versus only 2200 in the April election when candidates were running.

[OakParkSpartan]

Is there any sort of online calculator that people could use to see the tax changes?

That would be useful.

[Ted]

Is there any sort of online calculator that people could use to see the tax changes?

That would be useful.

I think the district is going to come out with a sheet that says if your property is values between $XXX,000 and $YYY,000, then your taxes would increase by this amount for the tax rate referendum and by this other amount for the building bind referendum.

[berwyn senator]

There are many seniors still in Berwyn that are on fixed incomes,and are not able to pay a large increase in their real estate taxes.These people are living on social security,some have very small pensions.I am sure this will be the group that will be out to vote! Can't blame them!

[buzz]

Isn't everyone on a fixed income ?
If your salary is $42K, isn't that a fixed income of $42K ?

[Good Time Charlie]

There are many seniors still in Berwyn that are on fixed incomes,and are not able to pay a large increase in their real estate taxes.These people are living on social security,some have very small pensions.I am sure this will be the group that will be out to vote! Can't blame them!

Can they afford the decreased property values that come with crappy schools?

[berwyn senator]

Most are at a stage in their life where it doesn't matter survival does.Long time residents paid 4000-60000 for their homes so the decrease we experienced did not effect them they are not moving they can't.The concerns of the senior population is surviving financially,something they never thought they would have to face.As far as schools they don't care!!!!!! Myself I have always supported the school systems in Berwyn,But I don't always believe throwing money into the schools is the answer to a better education.Another topic Another discussion.

[Ted]

There are many seniors still in Berwyn that are on fixed incomes,and are not able to pay a large increase in their real estate taxes.These people are living on social security,some have very small pensions.I am sure this will be the group that will be out to vote! Can't blame them!

Senator, I think most seniors get the senior exemption, which makes property taxes much much lower than the average single family household in Berwyn.

In fact, I think the $393 per $100,000 of assessed value in the language of the tax referendum probably averages in for senior exemptions, which may mean my taxes will even be higher than I calculated... LOL