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how is this possible? good planning
how is this possible? good planning
The last major investment in our schools will be paid off this year. With voter approval in March, tax payments for this next investment would pick up where those payments left off. This timing allows us to fix our schools’ infrastructures while keeping the tax rate steady over time.
state aid
state aid
Certain types of projects are eligible for state aid when approved through a bond referendum so the board focused on selecting the types of projects that would receive the maximum amount of aid. If voters approve, the state will pay a third of the project costs. This is money Springfield residents already paid to the state through taxes that can only be brought back to invest in Springfield through approval of the bond referendum.
Question 1 TAX NEUTRAL
Question 1 TAX NEUTRAL
Critical Infrastructure Upgrades
Critical Infrastructure Upgrades
$18.9 Million in Improvements | State Pays $6.4 Million
$18.9 Million in Improvements | State Pays $6.4 Million
Tax neutral means we can pay off a previous investment and start a new one at the same cost of approximately $10 per month for a home assessed at Springfield’s average of $533,097.
Question 2 TAX INCREASE
Question 2 TAX INCREASE
Builds on the Projects in Question 1
Builds on the Projects in Question 1
$14 Million in Improvements | State Pays $4.7 Million
$14 Million in Improvements | State Pays $4.7 Million
If approved by voters, residents will pay less than $8 per month for a home assessed at Springfield’s average of $533,097.
*Question 2 can only go into effect if Question 1 is also approved by voters.
assessed value
assessed value
Assessed value can be found on a homeowner’s property tax bill and is used to calculate how much that person pays for taxes. Assessed value is different than market value and is typically much less.
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