Vernon Area Library — Pledge to Vote NO on an Estimated $63.8 Million Property-Tax Hike
Vernon residents deserve tax relief. Fight back to stop higher taxes
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Your property taxes are high enough. A sampled property near the library has an estimated total effective property-tax rate of 2.89% of home value, compared with the 0.90% national average—approximately 221% higher. Residents can value their library and still reject another long-term tax obligation. Homeowners already face a substantial property-tax burden.
The advertised price leaves out millions in interest. Vernon Area Library is asking to borrow $39.5 million, but that figure excludes the interest taxpayers would also pay. Estimated repayment over 20 years reaches approximately $63.8 million—including $24.3 million in interest. About 38 cents of every repayment dollar would go toward financing rather than library improvements. Interest rates have skyrocketed since June: the 30-year AAA municipal benchmark jumped from 4.10% to 5.08%—nearly 24% higher.
Library taxes have increased ten years in a row. Property-tax extensions increased in every year from 2016 through 2025, rising from $7.2 million in 2015 to $9.8 million in 2025—36.1% higher. The library used its full PTELL limiting rate in 2024 and 2025. Its own polling found 69% rated already-high property taxes an excellent or good argument against the referendum, while 68% said the same about affordability concerns. The library acknowledges that, if the referendum fails, existing fund balances, grants, and other non-referendum funding would address its highest-priority infrastructure and safety needs. Voting NO rejects the new debt while existing funding and annual taxing authority continue.
Pledge to vote NO. Share this with your neighbors. Request a Vote No yard sign: [email protected].
Vernon Area Library Referendum Facts:
- Borrowing requested: $39.5 million.
- Estimated interest: $24.3 million.
- Estimated total repayment: $63.8 million.
- Repayment estimate: This estimate uses the 5.08% rate for 30-year AAA municipal bonds as of September 25, 2026. AAA is the highest credit rating.
- Annual tax increases: Actual property-tax extensions increased in all ten years, 2016–2025. The library reached its full PTELL limiting rate in 2024 and 2025; several earlier years were below the limit.
- Polling: June 2026 polling measured the strength of arguments against the referendum, not intended votes.
- 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.
Pledge to vote NO. Share this with your neighbors.
Request a Vote No yard sign: