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School Taxes Will Not Increase
School Taxes Will Not Increase
Taxes will not be increased with passage of the bond referendum. The district is seeking a continuation of the current debt service tax. Bondurant-Farrar would borrow up to $23 million in bonds without increasing your school tax rate for the completion of the proposed new building.
The ballot also includes a question about the district's Revenue Purpose Statement, which is in regards to how we utilize funds generated by the statewide penny sales tax. This vote would not impact taxes.
Staff Interview:
Staff Interview:
Bondurant-Farrar School Business Official, Cari Aylsworth, discusses the specific items on the ballot and their impacts.
How can we fund a new school with no tax increase?
How can we fund a new school with no tax increase?
The district continues to grow at a significant rate in both residential and commercial value. Our growth is not only in student enrollment but also in the commercial and residential tax base which allows us to keep the tax rate stable. This means many more property owners are contributing tax dollars compared to just five years ago. During the past five years, the district has grown by over 500 residential homes and has also seen a large number of significant commercial projects. In this example, 500 homes at an average valuation of $280,000 equates to $140 million in additional residential valuation.
As indicated in the chart above, the last increase in the school tax rate occurred with the passage of the 2016 bond referendum which allowed for additions to Morris Elementary and the high school, including a performing arts auditorium. The 2020 bond referendum will NOT raise this tax.
September 8, 2020 - A Special Election will be held to authorize the Bondurant-Farrar Community School District to contract indebtedness and issue bonds to construct, build, furnish and equip a new junior high building to be located on district property north of the current high school. The ballot will also include a question regarding the district's Revenue Purpose Statement (RPS) which allows Bondurant-Farrar to continue to use penny sales tax revenue to fund building and technology needs. Polls will be open from 7AM to 8PM.
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