Grayslake Taxpayers, Do You Want a Tax Break
The title of the Daily Herald article by Mike Riopell is very accurate, Grayslake taxpayers may get a tax break. The problem is you won’t get this break if unless you stand up and tell the board to abate those bonds. I was also at the meeting last night and the discussion on the bonds was not encouraging for the taxpayer. Read the exceprts below and then I’ll have more comments. Emphasis mine.
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Taxpayers could catch a break if Grayslake Elementary District 46 officials decide to give money back from some of its loans. The district board Monday night discussed giving back money from three years of bond premiums, cash bonuses the district gets up front in exchange for high interest rates. The discussion follows a Daily Herald analysis that revealed the district was one of many across the suburbs that took out premiums. But if the Grayslake district decided to give back some of the money, they’d be the first in the suburbs to do so following the study. But board President Cheryl Davis said the district must balance any sense of obligation to give back with its need for the space. “When we did what we did, this board and this administration were not aware of this premium bond situation,” |
