$30 Million Handed Back To Taxpayers From Winnetka Public Schools

WINNETKA, IL — Homeowners in Winnetka have been handed back $30 million by a vote from the District 36 School Board to approve the early refunding of callable bonds.

The decision at Tuesday's board meeting means an annual reduction of $320 per every $10,000 paid in property taxes, the district said. The reduction in the property tax burden would begin this year.

The district credited a 2013 strategic financial management plan for the decision, while the board said it remained dedicated to collecting only what was needed from taxpayers and has carefully considered community input when making financial decisions.

Recently, the board approved the development of a "Facilities Master Plan". This will provide vital information for consideration as Phase II of a project to balance enrollment begins later this spring, according to the district.

Phase II will consist of a thorough review of all aging District facilities as well as enrollment projections and trends. At this point in time, it is anticipated that the Enrollment Balancing Project process will likely culminate in a referendum to support long-term facilities and educational needs, the district said.

» via Winnetka District 36