A referendum on the March 18 ballot will ask residents to allow the New Lenox Park District to keep its current tax rate, said Communications/Marketing Supervisor Lauren Lotz.
The 2004 General Obligation Bonds for the Sanctuary Golf Course will be paid off, and the park district needs voters' approval to keep approximately .06 cents (.0620) of taxing authority.
Park Board Vice President Ross Jansma recently described how the funds would be spent in the park district.
“These funds will not be used for salaries, staff benefits, utilities or supplies," Jansma said. "Our future vision would be to improve as well as for park development in those sub-divisions that have been patiently waiting for a park," Jansma said. "In addition, we would continue land acquisition to maintain open space as well as continue ADA compliance.”
No additional tax dollars will be needed, Lotz said.
The referendum is the result of the 2004 General Obligation Bonds that were used to construct the Park District’s Sanctuary Golf Course, which will be paid off in 2015. Once this final payment is made, the park district will no longer be entitled to this 6.2 cents per $100 of assessed value. With average home values in New Lenox at approximately $250,000, the financial impact for each homeowner would be less than $50 per year.
The Park District said that although it reads as a tax increase, the net effect of the referendum will not result in an increase due to the retirement of the bonds and the increase in the limiting rate.
Park District encourages the public to visit its website for more information.