Oswego 308 — Pledge to Vote NO on an Estimated $567 Million Property-Tax Hike
Oswego 308 wants to make your life more unaffordable
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Oswego 308 — Pledge to Vote NO on an Estimated $567 Million Property-Tax Hike
Your property taxes are high enough. A sampled property near district headquarters has an estimated total effective property-tax rate of 2.68% of home value, compared with the 0.90% national average—approximately 198% higher. Another long-term bond obligation would commit homeowners to additional payments when their existing tax burden is already substantial.
The advertised price leaves out millions in interest. Oswego 308 is asking to borrow $317 million, but that figure excludes the interest taxpayers would also pay. Estimated repayment over 25 years reaches approximately $567 million—including $250 million in interest. About 44 cents of every repayment dollar would go toward financing rather than school improvements. Interest rates have skyrocketed since June: the 30-year AAA municipal benchmark jumped from 4.10% to 5.08%—nearly 24% higher.
Spending is up. Taxes keep rising. Operating spending per pupil increased approximately 53% after inflation between 2000 and 2024. Property-tax extensions increased every year from 2016 through 2024, and the 2025 county calculation shows another increase. The district already has authority to increase property-tax collections annually within legal limits.
Voting NO avoids the proposed new bond payments and resulting tax hikes.
Pledge to vote NO. Share this with your neighbors. Request a Vote No yard sign: [email protected].
Referendum Facts:
- Borrowing requested: $317 million.
- Estimated interest: $250 million.
- Estimated total repayment: $567 million.
- Repayment estimate: This estimate uses the 5.08% rate for 30-year AAA municipal bonds as of September 25, 2026.
- Annual tax increases: Actual extensions increased each year during 2016–2024.
- Existing taxing authority: PTELL generally permits annual increases in covered tax collections up to inflation or 5%, whichever is lower, plus new-construction revenue, subject to applicable limits.