The average annual payment will be $150,924. If the referendum passes, the district will be given a state aid offset of $51,314 annually, which will make the debt service payment $99,610. If the referendum doesn’t pass, the district will never be able to see the $51,314 in annual state aid offset.
What does state aid offset mean? The state aid offset of $51,314 is made toward the average annual payment without having a tax impact on the community for this offset. This is one of the most positive impacts of passing the referendum.