Tax Impact
Tax Information
Improvements to the schools total $12.4 million. Funds from the bond issue can only be used only for the facility improvements described for this project.
The following describes how the bond issue will affect taxes:
2015: The levy for the 1998 bond issue is roughly 7 cents. For a $100,000 home, you currently pay about $70 per year toward this bond issue. The district will make its last yearly payment in December 2016. No payment on the new bond issue will be due in 2015.
2016: For one year, two payments will be due -- the existing payment of 7 cents and a first year (partial) bond payment of 15.5 cents for the new project, for a total of 22.5 cents per $100 valuation. On a $100,000 home, you will pay about $225, a net increase of $155 more than the previous year to repay this bond in the first year.
2017: Beginning in 2017, the 1998 bond issue is paid off and the payment on the new bond issue will be roughly 21 cents per $100 valuation. On a $100,000 home, you will pay about $210, a net increase of $140 more than you paid in 2015. Depending on valuations, this is roughly what you can expect to pay for the next 20 years of the bond.
