Fox Lake to ask voters to raise taxes for a new library?
Fox Lake voters will have to decide if taxes should be increased to bring a larger library to town.
Now Fox Lake District Library officials just have to decide how much more those voters would pay.
Fox Lake District Library officials learned Tuesday the cost of their nearly $15 million library would cost the owner of a $250,000 home about $94 annually under one proposal that would appear on the Feb. 5 primary ballot.
Financial analyst Steve Larson said the district could spread the building bonds for construction of the building over 21 years. That would raise the district's tax rate from 16 cents per $100 of equalized assessed valuation to 21 cents per $100 EAV.
Officials didn't approve the final number. That vote is expected to take place during a special meeting Nov. 21 at the library on Grand Avenue.
"Now it's up to the voters to decide if it's enough," Larson said. "We have kept the cost down as much as possible. Right now it's only $8 per month."
The proposed library would be two stories high and about 23,000 square feet larger than the current 17,000-square-foot library. The facility would include an Internet cafe, study areas and a grander children's section.
The board is still reviewing final plans for the project, while architects stressed the details were not even close to final.
The group has until Dec. 6 before finalized paperwork must be filed with the county to get on the ballot.
The library district is the third Fox Lake-area taxing body planning a referendum on the Feb. 5 ballot. Big Hollow Elementary District 38 and Grant High School District 124 have also announced they are presenting ballot questions.
Big Hollow wants an education fund tax rate increase, and Grant has announced plans to expand the school at Route 59 and Grand Avenue without increasing taxes. Grant officials are looking to issue new bonds to fund the addition, replacing loans being paid off this year.
Board member Pam Renaker said the district has discussed the number of questions for residents on the ballot, but said the district had to move forward and ask voters anyway.
"We are growing by leaps and bounds," she said. "If we wait now, who knows who will decide to come forward next. We decided now is the time to do it."