Building A Better District

Potential Tax Savings Simulator

-We have all been paying off a bond debt from the construction of Country Trails Elementary and Prairie Knolls Middle School from 2006. The original bond debt before interest was $34 million. That amount has been included in our tax bills for almost 20 years. That debt is set to be paid off which would result in a significant tax savings for homeowners.

-When the district presents their "Less Than $10 A Month" pitch, they are talking about a NET increase to your tax bill by replacing the the old debt we've been paying for CT & PKMS with the new $224.6 Million bond debt in its place. This is NOT showing the community the "true GROSS tax impact" of the $224.6 million.

-The tax calculator below is an attempt to give you an idea of the TOTAL GROSS IMPACT of the 224.6 million on your annual taxes while also showing you what you would generally save if the $224.6 million referendum fails and the CT/PKMS debt is paid off and comes off our tax bill.We recognize we need a solution to elementary space issues and possibly middle school space issues, dependent upon growth, however, we believe a $224.6 million new high school is NOT needed (confirmed by RSP & Associates' report), nor is it appropriate or sustainable financially for our community. Better options exist and have not been explored.

Using your most recent property tax bill, look for the box that says "NET TAXABLE VAL." and enter that into the table below to see the various possible impacts for the $224.6 million proposed referendum.

Annual NET Tax Increase If Referendum Passes

Annual Tax SAVINGS If Referendum Fails & CT/PKMS Bond Debt Is Paid Off

ENTER Net Taxable Value BELOW

Est. 2024 School Taxes*

Est. Tax Amount (Based on 2024)

Net Tax Increase**

Est. Tax Amount (Based on 2024)

Tax Savings***

Actual GROSS Tax Impact of $224.6 Million Referendum On Your Tax Bill (This is the TOTAL tax amount billed to your home for a $224.6 Million bond debt -- not just the "net" increase on top of the amount you have been paying for CT/PKMS since 2006)

GROSS Annual Tax Impact of $224.6 Million Referendum^

YOUR 10-Year Impact

20-Year Impact

30-Year Impact

**This is the NET increase to your tax bill if you kept the amount of the bond debt you have been paying annually towards the CT/PKMS bond from 2006.

***This is the amount you would SAVE on your tax bill if this referendum fails and the CT/PKMS bonds are paid off and fall off your tax bill.

^This is the amount you would be paying if the CT/PKMS bond debt was already paid off today and the $224.6 million referendum was being added to your tax bill.

The numbers shown here are for example purposes with calculations based on formulas using Kane County's EAV Reports and Central 301's Limiting Tax Rate and projected interest rate for $1,000 borrowed. This is not an official tax statement or guarantee, but an example of different tax scenarios with different variables. Kane County and Central 301 have not participated in the creation of this calculator.