Upcoming $50 Million Bond Issue Hearing: Potential Tax Decrease and Local Improvements

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The Forest Preserve District of Will County has scheduled a public hearing to discuss a proposed $50 million bond issue. The hearing will take place at 9:15 a.m. on Thursday, June 6, at the Will County Office Building in Joliet. Stakeholders and the public can submit comments online or in person at the event. The bond issue aims to fund the 2025-2030 Capital Improvement Program without raising the Forest Preserve portion of property taxes.

Despite the significant bond issue, the proposal indicates that property tax bills will not increase. In fact, taxes are expected to decrease. For example, the owner of a $300,000 home would pay $95 annually for the Forest Preserve District’s portion of their property tax bill if the bond is approved, a decrease from the current $116. This is an 18.5% reduction.

The bond issue will allocate funds to several important projects. These include $25 million for land preservation, $12 million to improve regional and local trail connections, and to create new preserve access areas. Another $13 million will go towards habitat restoration to enhance biodiversity and ensure clean water and air.

After the public hearing, the Finance Committee will meet to decide whether to include the bond issue on the agenda for the full Board’s meeting on June 13. If approved, the Board president and officers will have the authority to sell the bonds, contingent on favorable market conditions and the interests of the taxpayers.