The Ballot Question Simplified

Recent changes in Illinois law makes it mandatory to use the following language for the referendum question. There will be one slight difference on the Kane County ballot because of our split county lines. Kane County will have different dollar values in section (1) based on the square miles of the library district within Kane County boundaries. However, the referendum dollar amount for Kane and McHenry County will be the same on your property tax bill.

The following is the question as it will appear on the November 4th ballot.

Shall the limiting rate under the Property Tax Extension Limitation Law for Huntley Area Public Library District, McHenry and Kane Counties, Illinois, be increased by an additional amount equal to 0.075% above the limiting rate for levy year 2007 and be equal to 0.24886% of the equalized assessed value of the taxable property therein for levy year 2008, 2009, 2010 and 2011? (Yes or No)

(1) The approximate amount of taxes extendable at the most recently extended limiting rate is $1,707,825, (Kane: $402,553) and the approximate amount of taxes extendable if the proposition is approved is $2,444,380 (Kane: $576,206).
(2) For the 2008 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 $21.00.
(3) Based upon an average annual percentage increase in the market value of such property of 3%, the approximate amount of the additional tax extendable against such property for the 2008 levy year is estimated to be $21.00, for the 2009 levy year is estimated to be $21.50, for the 2010 levy year is estimated to be $22.00 and for the 2011 levy year is estimated to be $23.00.
(4) If the proposition is approved, the aggregate extension for levy years 2008, 2009, 2010 and 2011 will be determined by the limiting rate set forth in the proposition, rather than the otherwise applicable limiting rate calculated under the provision of the Property Tax Extension Limitation Law (commonly known as the Property Tax Cap Law).
What the referendum question means:

■ A “Yes” vote means that the library can expand.

■ A “No” vote means that it cannot expand.

■ 0.075 is the proposed increase in the tax rate to build and operate an addition.

■ Cost will be $5 per month for the owner of an average home.

■ The first 4 years the tax rate with the original increase is set at .24886. After the first 4 years, the rate can decrease. It cannot increase.

■ The rate will not disappear completely after the building is paid off. The money will be used to pay for the increased cost of operations and maintenance.

■ The rate will drop over time if the population continues to grow and our tax base expands.