the real tax impact
Are you aware that the Cambridge-Isanti School District will collect approximately $6 million in new tax revenue next year? Yes, regardless of the bond referendum vote results, you will be taxed for additional board-approved operating levies and alternative facilities bonds. If the referendum is approved, the total annual tax impact for residential properties of $100,000; $200,000; and $300,000 will see property tax increases of $107, $228, and $349 respectively. Quite a difference from the $14, $35, and $56 bond portion numbers which may be familiar to you.
From what I can gather from the district’s newsletter, they can issue non voter-approved alternative facilities bonds for items that pose health and safety risks. Then truly urgent matters could be addressed through school board approval instead of by taxpayer vote. The district is set to get $3,065,000 in alternative facilities bonds. Additionally, next year you will see a $512 per student levy on your property taxes, which equates to another $3 million.
After those revenue sources, the district is asking you for another $10 million. But apparently, even that won’t be enough to address their list of projects. So it’s only a matter of time before the district comes back asking for more.
From what I can gather from the district’s newsletter, they can issue non voter-approved alternative facilities bonds for items that pose health and safety risks. Then truly urgent matters could be addressed through school board approval instead of by taxpayer vote. The district is set to get $3,065,000 in alternative facilities bonds. Additionally, next year you will see a $512 per student levy on your property taxes, which equates to another $3 million.
After those revenue sources, the district is asking you for another $10 million. But apparently, even that won’t be enough to address their list of projects. So it’s only a matter of time before the district comes back asking for more.
Check out this 2 minute video on FB: Do the Math: 23% Increase in school district taxes.
How much is the District taking from you? Check out their Total Tax Impact Assessment