The language for Oswego School District 308's third attempt at passing a referendum has been finalized with the county for the March 17 ballot.
As previously reported in the Oswego Ledger, the referendum will ask voters to approve a 30-cent property tax rate increase to support the district's operating fund, the same amount the voters rejected in a referendum last April.
The OSD 308 Board of Education placed the referendum on the ballot with the hope it will pass, to offset the need for further budget cuts and fee hikes.
According to information previously provided by the district, the referendum would cost the owner of a home valued at $200,000 an additional $182 annually, while the owner of a home valued at $250,000 would pay an extra $232. The annual property tax bill for a $300,000 home would increase by $282.
A test ballot available through the Kendall County Clerk's website shows that the question will read, "Shall the limiting rate under the Property Tax Extension Limitation Law for Oswego Community Unit School District Number 308, Kendall, Kane and Will Counties, Illinois, be increased by an additional amount equal to .30% above the limiting rate for school purposes for levy year 2018 and be equal to 5.32922% of the equalized assessed value of the taxable property therein for levy year 2020?"
Following the question are three informational items to accompany the question.
The first reads, "The approximate amount of taxes extendable at the most recently extended limiting rate is $100,337,282, and the approximate amount of taxes extendable if the proposition is approved is $106,322,541."
The second reads, "For the 2020 levy year the approximate amount of the additional tax extendable against property containing a single family residence and having a fair market value at the time of the referendum of $100,000 is estimated to be $100."
The third and final item reads, "If the proposition is approved, the aggregate extension for 2020 will be determined by the limiting rate set forth in the proposition, rather than the otherwise applicable limiting rate calculated under the provisions of the Property Tax Extension Limitation Law (commonly known as the Property Tax Cap Law.)"
The referendum proposed by the district is the third placed before voters in as many years.
In 2018, the district asked voters to pass a sales tax referendum that would have established a one percent retail sales tax in stores and restaurants in the county, and would have been added to current county and municipal sales taxes. The next year, the district asked voters to pass the operating fund referendum, similar to the one placed on the March 17 ballot.
Further information about the referendum can be found on the Oswego School District 308 website.