The Board of Directors is seeking input from the public on the upcoming bond election. The question for the public is centered on the bond term. Please choose from one of the options below.
All of the numbers used in these examples are estimates.
20 year Bond Option
Estimated Bond amount: $59.85 million
Term: 20 years
Projected interest rate 2.79%
Total Interest $19.0 million
Less state paid interest $1.9 million
Net Interest $17.7 million
Projected tax rate: $1.45 per $1,000
Assessed Home value $200,000
Home owners exemption(2016) $94,745
Taxable amount $105,255
Tax rate $1.45 per $1000
Annual Tax $152.62
Monthly Tax $152.62/12 = $12.72
30 year Bond Option
$59.85 million
30 years
3.46%
$37.1 million
$3.7 million
$33.4 million
$1.17 per $1,000
$200,000
$94,745
$105,255
$1.17 per $1000
$123.15
$123.15/12 = $10.26
Please click on the following link to indicate your preferred choice: Bond Term Question