THE COST
Learn about the investment of the plan.
How much does this plan cost? How does this impact me as a taxpayer in the district?
Question One of the referendum was approved, but Question Two was not. The district will now invest $17.15 million, which includes all issuance and financing costs. Question Two proposed $10.8 million.
Like a mortgage payment, bond payments are made up of both principal and interest amounts. For Question One, the estimated tax impact on a $170,600 residential home in the district would be approximately $13.67 per month starting in 2024. The bonds will be issued for a period of 20 years.
Want to know your estimated tax impact? Click on the tax impact chart or use the tax calculator below.
Are you an agricultural landowner? Learn about the State of Minnesota’s Ag2School Tax Credit.
Ag2School is a 70% tax credit provided to all agricultural property except the house, garage, and one acre surrounding the agricultural homestead. This is not a tax deduction – it’s a dollar-for-dollar credit and is an automatic tax credit paid directly by the state with no application required. This credit would remain at 70% for the life of the bond.
Ag2School credits would pay for approximately 55% of the project’s total debt service payments.
