In much the same way as many homeowners have taken advantage of lower long-term interest rates to reduce future mortgage payments, School District 55 has done the same to reduce future property taxes.
On Jan. 5, the district refinanced its remaining 2001 general obligation bonds, saving taxpayers $630,450 over the next 24 years. This amount is in addition to the $781,874 the district saved from a bond refinancing completed in April 2005.
“In total, taxpayers…