November 2018 Referendum
At the August 6 Committee of the Whole meeting, the Board voted to approve the resolution as presented to place on the November 6, 2018 ballot a proposition for school building bonds in the amount of $166,426,514.
Before the vote on the proposition for school building bonds, representatives Bob Lewis from the District’s municipal advisor PMA discussed with the Board the bond issuance for the proposed amount and the estimated tax impact from it. In the financing scenario the Board indicated that it preferred, the tax impact for a home with a fair market value of $500,000 is estimated to be $301 per year if the Board sold bonds as they were needed for construction.
For reference, the median home value in District 86 is $461,200.