Last winter, District 58 projected that the $179 million facility proposal would increase District 58’s tax rate by 0.23. Given the uniqueness of the current bond market, in August 2022 District 58 recalculated the property tax impact and updated its projection to 0.25. The new projection would increase District 58’s property tax rate from $1.98 to $2.23 (0.25).
District 58 currently has the lowest property tax rate when compared to all DuPage County large elementary school districts. Even with a tax increase of 0.25, District 58 would still have the lowest tax rate when compared to peer districts.
The estimated annual tax impact of the $179 million bond measure is $253 for a $300,000 home. These improvements would be financed over a 20-year period. Please see the tax impact chart below to estimate the impact on a variety of home values.
Here is the property tax impact chart:
|Home Value||Annual Tax Increase (0.25)|