Proposal to save taxpayers $6.2M

[Open letter to] CUSD 200 Board members,

Congratulations, Wheaton-Warrenville District 200 voted to build a new Jefferson preschool without raising taxes.

D200 said it could fund the project from operating revenue.  So tell me, why is the district still planning to use 20-year “lease certificates,” which will cost the taxpayers $6.2M more than necessary?   These tax dollars should be paying for educating students and maintaining our buildings rather than funneling them to consultants and out of state lenders. Continue reading “Proposal to save taxpayers $6.2M”

School Bond Debt Drives Property Taxes

School districts need to keep borrowing so that they can spend today and tax tomorrow.  They think as long as they are not raising taxes much, we won’t notice.  But, we are paying attention.  When we approved the last referendums (Hubble, high schools…) those were to be paid off in 20 years – like a mortgage.  Instead, the school board has refinanced bonds to lower current payments and push the all-paid date out.  Then they borrow more – new, non-referendum bonds.  It is now more like a home equity line of credit that will never be paid off, so taxes will never go down.  Currently about 9% of our property tax bill pays for past school district borrowing.  If we STOP future bond issues our taxes will go down! Continue reading “School Bond Debt Drives Property Taxes”

QA Jefferson with links for details

 

I will be voting “NO” despite the fact that everyone (me included) would like to say “yes” to a new Jefferson Early Childhood Center…

 

Bottom line:

District 200 cannot afford a new building without issuing new debt that will let them spend today while taxing tomorrow. The latest 5-year forecast, which does includes a new building, shows a $26 million deficit.  In recent years, the end-of-May financial report shows that prior to the first installment of yearly property taxes, the District’s money in the bank dips to around $15 million.  So while the referendum wording says “without levying a separate, special property tax,” they will need to find money somewhere. Continue reading “QA Jefferson with links for details”