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The total cost of all proposed projects will be $64 million.
The total cost of all proposed projects will be $64 million.
This reflects a $25 million reduction from the 2024 bond.
This reflects a $25 million reduction from the 2024 bond.
School Finance 101
School Finance 101
What is the cost breakdown by building?
What is the cost breakdown by building?
High School: $47,889,931
Middle School: $7,593,301
Intermediate School: $174,296
Eagle: $6,564,695
Hamlow: $1,777,775
Grand Total: $63,999,998
What the difference between a school bond and a levy?
What the difference between a school bond and a levy?
A bond and a tax levy are ways public entities raise money to cover expenses, but they work in different ways.
A bond is a loan and a levy is a tax.
School districts borrow money by issuing bonds to investors with a promise to pay it back over time with interest. Voters must approve bonds because they are paid through property taxes. Bonds can be paid over a length of 20, 25, or 30 years.
What expenses can be paid between a bond or a levy?
What expenses can be paid between a bond or a levy?
Tax levy money is used for day to day and short term expenses within the district. Bond money is used for bigger, more long term projects like facility improvements.
How is money generated through property taxes?
How is money generated through property taxes?
School funding is generated from property taxes. Property taxes are based on the assessed value of the property. The local county accessor establishes the assessed value, which becomes the basis for calculating taxes. Calculations are figured based on residential property and agricultural land in each county.
How will $64 million impact my property taxes?
How will $64 million impact my property taxes?
Assuming you own a home valued at $100,000, a $64 million bond would increase property taxes by approximately $150 a year. This would amount to $12.50 per month.
Ag. land is difficult to project due to a number of variables on how the land is valued. Please contact our Business Manager if you'd like assistance with calculating your ag. land property tax.
Mikal Shalikow: mikal.shalikow@district145.org
How long will it take to pay off $64 million?
How long will it take to pay off $64 million?
Like a home mortgage, bonds can be paid off based the terms. At this point, the board has not made any decisions regarding the terms of a potential bond.
Does the district have other bonds that are being paid?
Does the district have other bonds that are being paid?
Yes. The district is currently paying on the following bonds.
Bond 2020 / 2015
Last Payment due December 15, 2035
Security and Technology Upgrades
Balance due: $6,417,420
Bond 2021B / 2016
Last Payment due December 15, 2035
Security and Technology Upgrades
Balance due: $4,243,995
2024 QCPUF
Last Payment due November 15, 2034
Playgrounds at WIS and Hamlow
HVAC at Hamlow and Eagle
Balance due: $7,569,254
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