Question: Can you tell me what the tax impact will be if this referendum passes? What is the district still paying off from past referenda?
Answer: If Question One passes, there will be a tax increase of $22/month for a $350,000 house. If Question Two passes, there would be a tax increase of $14/month for that same homeowner. Question Three is a renewal of an existing levy, so there would be no additional tax increase associated with that question. Additional tax impact for an average homeowner ($350,000 home) if all three questions were to pass is $36/month, or $432 annually.
That said, these tax rates are calculated based on the current population base, but we know the population is growing. As the tax base grows, the cost of the referendum is spread across that growth, so the reality is that the tax impact is likely to decrease over time.
In fact, that’s exactly what has happened historically. If you look at this levy impact comparison, provided by BakerTilly, the district’s financial advisor, you’ll see that the tax impact of all levies on that average home has decreased by almost $364 dollars a year since 2014.
Not sure what the tax impact on your property will be? We have a tax impact calculator on the district’s website that will calculate the estimated tax impact on your property.
For more information on the 2019 Referendum, visit www.district112.org/vote2019.