Do you want to know your estimated tax impact if our proposed plan passes? Use our tax calculator below to find out.
QUESTION 1 ESTIMATED TAX IMPACT
Increasing our operating levy for the next 10 years by $625 per pupil will mean that our school operating budget will increase by $1.041 million.
This will result in an increase in property taxes by $11.84/month for a home valued at $137,000.
QUESTION 2 ESTIMATED TAX IMPACT
Remodeling, safety improvements and maintenance projects at Lake Ripley Elementary, Litchfield Middle School and Litchfield High School buildings will cost approximately $33 million.
This will result in a property tax impact of $9.53/month for a $137,000 home.
QUESTION 3 ESTIMATED TAX IMPACT
Constructing a new pool, re-purposing the old pool into a weight room and cardio classroom, and adding a soccer field is $11.4 million, and will result in a tax impact of $5.53/month for a home valued at $137K.
ag2school tax credit provides property tax relief for farmers
The state Ag2School bonding credit program now provides a subsidy for owners of agricultural land to offset the property tax impact of school bonding referendums. This is a tax credit on agricultural land, excluding the value of the house, garage and one acre of land surrounding an agricultural homestead. The Ag2School tax credit is 50% for property taxes payable in 2020 and is scheduled to increase to 70% by 2023.