It will cost WHAT?

Wheaton-Warrenville, CUSD 200 sent a flyer last week about the upcoming referendum.  This section on the financial impact reminds me of those ads with a “LOW introductory price.”  Is that false advertising?  Do taxpayers deserve to know the whole tax impact?

not telling you

Notice: your “share” is more than 2% of your home’s value.

Update 3/23/2017 – Found the district’s detailed estimate. Download estimated impact as PDF.   For the median valued home ($322,300) the last ten years of payments are estimated to by $531/year, and the total estimate is $7282

  • From a presentation that is attached to the Dec 2016 Board agenda cusd200.org/cms/lib7/ …pdf page 5, the total debt services (principle + interest) is $206 million. cusd200 debt 206M
  • The first year payment is $5 million (page 3, same pdf) bond repayment plan
  • Each homeowners share is estimated as

total _share = First_year_impact  x (206/ 5)

Then take a look at this post: “Analysis: Property taxes rapidly eroding DuPage home values”  dupagepolicyjournal.com/…

DUPAGE COUNTY MEDIAN HOME PRICES

home value change

Are high taxes taking their toll on property values?  Will passing this referendum increase or decrease the values of our homes?

2 thoughts on “It will cost WHAT?

  1. Taxes have an inverse relationship with home values. As taxes go up, home values decline and vice versa. Simple economics. Be very careful with what the Board is trying to sell with this referendum. They are trotting out real estate agents to tell everyone to not be afraid of rising taxes. If they are so confident this won’t have an impact, then why bother? Because they know it will have an undesirable negative impact. The realtors are trying to say that they are and will continue to be able to sell real estate in the Wheaton market. That is true. But they are selling at depressed prices. Ask one of them to sell your home at pre-2007 levels and they’ll laugh you out of their office. And then ask yourself this. When you moved into this school district, did you investigate whether the schools could deliver the education we expect for our children? If you’re like me, the answer was yes. But then did you physically visit the school facility to determine the accuracy of the statement or did you examine standardized test scores? My wife and I looked at the test scores and didn’t visit any schools. And I am here to tell you that the performance of our children on standardized tests such as the PSAT, ACT and SAT have not varied by much during the 20+ years I’ve lived here. So if we maintain the schools as we have over the last 20 years, I sincerely believe our kids will be alright. To date, not a single Board member or District 200 administrator has given me any insight as to how the $206 million referendum will significantly impact these test scores nor our children’s ability to get into a quality university if desired.

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