This $27.285 million project will not increase your tax rate.

 

How?

• We can pay for the project out of our budget using the same amount of Special Building Fund money we have historically collected.

  • The Special Building Fund is used to pay for facility needs. It can pay for the elementary addition over time instead of paying for ongoing repairs and replacements.

• No new taxes, no added line items, no levy increase

• Additionally, Nebraska's new LB1107 program provides automatic 30% property tax credit on your bill for school levies​

• If the community approves the bond, the project will qualify for even lower interest rates

​

​

 

 

 

 

 

 

​​

​PROJECT COST

• Total estimated cost: $27.285 million

  • This amount includes the cost for design, construction, testing, and additional contingencies including inflation to ensure the project can be completed as presented.

 

TAX IMPACT

• Your overall tax rate will NOT increase

• The district’s current tax levy (for 2025-2026) has decreased by 10%

• The future Special Building Fund levy will remain flat for the life of the bonds 

• The High School Bond Fund will end in 2034 when the district’s existing bonds are paid off, and the TOTAL tax levy will decrease by that amount

• The School District has been levying 12 cents in the Special Building Fund for several years to address the needs of the current elementary building. 

  • This method of “saving up and pay as you go” is inefficient due to rising inflation on construction.

  • The financing plan is to reallocate the same 12 cents from the Special Building Fund and pledge these pennies towards a financing with a fixed interest rate.

  • The School Board has the ability to enter into a lease purchase agreement through a simple majority vote of the Board, but the Board has made it clear that they would like the public's input and approval on this project.

  • If the bond election is approved, it will lower the true interest cost of the project and thus save the taxpayers a significant amount of money on interest expense over the life of the bonds.

  • Again, this project WILL NOT increase the tax rate.  The existing 12 cents will simply be reallocated.