The “tax cut” claim
What they say
Quoted from sd308.org/update308:
“The proposed facility and site improvements can be addressed while still reducing the debt service tax rate.”
“Based on current estimates, the portion of taxes tied to the debt service tax rate would decrease by about $100 in 2028 and an additional $56 in 2036 for a home with a fair market value of $335,000.”
The same district page also uses a $300,000 home for the same $100 + $56 example in the FAQ. News coverage repeats $300,000. Fast Facts uses $335,000.
What that sentence hides
1. One line, not the bill.
Illinois property-tax bills stack many levies. SD 308’s Bond & Interest line is only the debt-service piece. Education, Operations & Maintenance, Transportation, Special Education, IMRF, and Social Security are separate. The board’s 2025 operating levy resolution totals about $141.5 million. That levy is not frozen by this referendum.
2. Rate vs. assessed value.
A rate can fall while the dollars collected stay flat or rise if equalized assessed value grows. New houses and rising assessments increase the base. The district’s own growth is the reason they say “new property taxes are coming in.” Those dollars feed the operating side. They do not rebate your existing bill.
3. The example house keeps moving.
Fast Facts on the district site uses $335,000. Other district materials and news stories use $300,000 for the same $100 + $56. That is sloppy. It is also low for much of 308. A household already paying near $13,000 a year is not being offered a meaningful cut. $100 is less than one percent of that bill — and only if every estimate holds.
4. “Current estimates.”
Interest rates, issuance timing, how much of the $317 million they actually sell, and future EAV are all assumptions. The Fast Facts page is not a contract.
5. New principal plus interest.
$317 million is the principal voters authorize. Interest on a ~20-year school bond is extra. The district has not posted a full new-money debt-service schedule next to the $100 graphic. Until it does, treat the graphic as marketing.
| What they emphasize | What your bill actually has |
|---|---|
| Debt-service rate | Debt-service dollars + operating dollars |
| $100 in 2028 on a $335k example | A $13k-class total bill for many households |
| “Timing works in homeowners’ favor” | Assessments and the operating levy are not frozen |
| “Savings accrue each year” | New bonds accrue interest each year |
If the roofs need work, say so. Do not sell a 20-year note as a tax cut.