VOTE411 Voter Guide

SHALL THE LIMITING RATE UNDER THE PROPERTY TAX EXTENSION LIMITATION LAW FOR PEARL CITY COMMUNITY UNIT SCHOOL DISTRICT NUMBER 200, STEPHENSON, CARROLL AND JO DAVIESS COUNTIES, ILLINOIS, BE INCREASED BY AN ADDITIONAL AMOUNT EQUAL TO 1.28000% ABOVE THE LIMITING RATE FOR LEVY YEAR 2024 FOR THE PURPOSE OF PROVIDING EDUCATIONAL PROGRAMMING AND INSTRUCTION, OPERATING, MAINTAINING, AND IMPROVING SCHOOL BUILDINGS AND FACILITIES AND CONSTRUCTING SCHOOL SAFETY AND SECURITY IMPROVEMENTS, INCLUDING NEW EMERGENCY RESPONSE SYSTEMS, SECURITY CAMERAS AND SECURED DOORS AND ENTRANCES AND BE EQUAL TO 5.40225% OF THE EQUALIZED ASSESSED VALUE OF THE TAXABLE PROPERTY THEREIN FOR LEVY YEAR 2026? (1) THE APPROXIMATE AMOUNT OF TAXES EXTENDABLE AT THE MOST RECENTLY EXTENDED LIMITING RATE IS $3,467,538, AND THE APPROXIMATE AMOUNT OF TAXES EXTENDABLE IF THE PROPOSITION IS APPROVED IS $4,544,244. (2) FOR THE 2026 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 $434. (3) IF THE PROPOSITION IS APPROVED, THE AGGREGATE EXTENSION FOR 2026 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).