Not only does the McHenry area have a ten cents per $100 of assessed value referendum on the ballot to create a new countywide taxing district the $9 million proceeds (first year’s estimate tax take) of which will go to help developmentally disadvantaged individuals, but there’s a $2.2 million bond issue, too.
In its February newsletter, the District explains,
“This opportunity would provide the district the ability to reinvest $2.2 million in interest savings. The savings generated will be spent on technology and necessary capital improvements, in particular, additional safety and security measures.”
“None of the money will be used for school administrator or teacher salaries. All of the money generated will be used for technology and capital improvements which include safety and security.
“If the question is unsuccessful, taxpayers who own a $200,000 home will see an average refund of $14.00 per year in the bond and interest portion of their tax bill over the next eight‐year payback period.
“If the question is successful, taxpayers will see no increase in the bond and interest portion of their tax bill.”
Details on planned expenditures can be found here.