Glen Ellyn residents are expected to pay less to the Park District as a result of the decision of its Board of Commissioners to allow debt to retire that funded the majority of construction costs for the Ackerman Sports and Fitness Center.
Commissioners unanimously voted at their July 19 meeting to allow the debt to retire. In November 2006, residents approved a $11.9 million bond referendum to construct Ackerman, acquire open space and renovate the Main Street Recreation Center.
Residents will realize, on average, an estimated 7.5-percent reduction on their 2016 tax bill payable in 2017 and an approximate savings of 27.5 percent on their 2017 tax bills that are payable in 2018, Park District Executive Director Dave Harris said.
“They will see their tax bill specific to the Park District go down significantly in the next two years,” Harris said. “Then through our financial forecast, we’ll still be able to maintain our current assets and accomplish some improvements.”
Read more about the decline in taxes at My Suburban Life.