Can the $82 estimated tax impact change over the years the bond is repaid?
Once the bonds are sold, the tax levies to repay the bonds will be locked in place. The tax impact ($82 for the average residential property) will be about the same each of the 20 years it takes to repay the bonds (see “Estimated Tax Impact of $43 Million Bond Issue” chart in the Facilities Financing section of District 203 Plan for Upgrading School Facilities 2007-2012). Typically, properties are reassessed each year. As long as an individual property matches the average rate of change in assessment, the tax bill for the bond repayment should be about the same each year. For example, if a property increases in assessment by 5% and the average reassessment increase throughout the District is 5%, then individual property owners will pay the same amount toward the bond issue as the prior year. If a property increases in assessment by 10% and the average reassessment increase throughout the District is 5%, then that individual property owner will pay a little more than was paid the prior
