BELVIDERE (WIFR) – Homeowners in the Belvidere School District can expect to save money on their property taxes.
The board is signing off on some documents tonight to refund $3 million in bonds. That means a family with a $100,000 home will save $135 a year.
While this will increase the districts long-term debt by a year, superintendent Michael Houselog says taxpayers will see some much-needed relief.
"We know that property taxes have been on the increase even though the revenues of the properties have gone down and this is our best attempt at being able to reconcile that with our taxpayers,” said Dr. Houselog.
The board is also getting a look at a 5-year budget forecast tonight, which looks much better than this time last year. That’s because the district closed a school and made other cuts to save money.