Estimated Tax Impact

In an effort to help residents understand the expected costs associated with issuing bonds, the projected adjustment in residential property taxes has been calculated.

Utilizing the most current information available, the impact of borrowing $9,750,000 is anticipated to result in a 2.83% adjustment to property taxes. For example, the adjustment related to the issuance of the bond is projected to result in an additional $566 per year for residents with a $20,000 property tax bill. The calculation was determined assuming a bond term of 20 years at a rate of 2.7%, which is consistent with bond rates achieved by similar communities. If the worst-case bond rate of 4.0% was assumed, the property tax percentage increase would be 3.21% rather than 2.83%.

For a more detailed explanation of various property tax impacts based on your average tax bill, please click the link below.

Bond Referendum Property Tax Impact