Similar to the 2015 Referendum, the District’s financing plan calls for 20 year borrowings phased over a 3 year period with planning interest rates of 4.50%-5.00% for a total repayment period of 22 years. As of February 15, 2019, Wisconsin School District borrowing interest rates were approximately 1.00% lower than the conservative planning estimates used to calculate the mill rate impacts. If interest rates remain low after the referendum, the district would be able to significantly reduce the interest cost related to the borrowing and could reduce the estimated tax impact. Each 0.50% reduction would reduce the interest cost by over $7.5 million.
Estimated mill rate impacts are based on the 2018 Equalized Valuation (TID-OUT) of $2,636,300,548 with conservative annual growth of 3.00% for five years and 1.00% thereafter. DASD property value growth for the last three years were: 2016-17 10.15%, 2017-18 8.15% and 2018-19 9.36%.
The estimated impacts represent the maximum change in the mill rate for debt payments vs. the 2018-19 levy of $2.57 for referendum debt service. Without referendum passage, the mill rate may remain flat or decline.
Estimated impacts are inclusive of state aid at the tertiary level of -16.38% (18-19 October 15 Certification) on incremental referendum expenditures.
Use the link below to determine your estimated tax impact for both the facilities question (#1, for increasing capacity and upgrading instructional spaces), and the annual operating funds (#2, for operating the new facilities and for additional staffing and programming).
PROPERTY TAX CALCULATOR
(You will be instructed to make a copy for yourself.)
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