FAQs
Will this raise my taxes?
If this passes it will result in a lower tax rate than what we’re paying today, while still being able to support your local schools and invest in their infrastructure.
How are you lowering the tax rate while addressing all of these facility needs?
The district has saved money, sold unneeded property, and now has a better credit rating. So, we can borrow at a lower interest rate. Due to the financial responsibility of the district, we’re in a better position to borrow. We do not have the funds in the coffers to cover the significant infrastructure needs of the district, however.
What is the cost to me?
For the average home in Cary that costs $325,000 the tax bill today would be $86.29 lower with the new tax rate.
Why should I trust you with my taxes?
The district has worked hard to pay off its debt over the past two decades. We are paying off our debt and can now look at the next phase in proactively caring for our children’s safety.
Will this go to raises for staff?
No. This is a referendum for operational and facility improvements. This will help protect current staffing and programming by allocating dollars specifically for facility needs. The repairs need to be done either way, however. If the district has to move funds from operations to replace a roof, for example, that is money coming out of the pot for salaries. This could result in ballooned class sizes and reduced class offerings again. We don't want to go back to that reality - ever.
Why are you asking for less money than the original bond?
The school board wants to ask only for the most important needs.
The district was able to sell the Maplewood property to the village so it is able to pay for some of its needs with that sale.
Why does the district have to ask us for money?
Legally the district is required to ask the community to borrow money. Legally this is the only way for us to fund the types of projects that need to be funded.
What happens if this doesn’t get approved?
If this does not pass our schools start to fail our students. In order to pay for deferred maintenance the district will be forced to decrease services and staffing.
If this doesn’t get approved, will my taxes be even lower?
Yes. But if this does not pass our schools start to fail our students. In order to pay for deferred maintenance (aging rooftops, safer doors and windows, aging HVAC systems, etc) the district will be forced to use money from the operating fund, resulting in a decreased services and staffing.
What’s the actual ballot question:
Shall the Board of Education of Cary Communicated Consolidated School District Number 26, McHenry and Lake Counties, Illinois, alter, repair, equip and improve the sites of existing school buildings, including installing safety and security infrastructure and renovating instructional spaces, and issue bonds of said School District to the amount of $20,000,000 for the purpose of paying the costs thereof?