We know that our school district is placing a $260 million bond measure on the ballot this November. Last week we learned how the District plans to use the money to renovate, repair, and build new schools. But how would this money be raised, and what does it mean for us individually?
The answer: Bonds are financed through our community’s property taxes. If the bond passes, homeowners will see their property tax increase by $1.82 per month per $100,000 of their home’s actual value. In other words, if your home is worth $100,000, you would pay approximately $22 more each year in property taxes.
Just like a mortgage, bonds have a finite duration. The repayment of this bond will be completed in 20 years.
Grassroots St. Vrain continues to attend parent group meetings around the District with our latest video presentation on school funding. It’s quick and informative, and we invite you to bring your questions. Please join us or contact email@example.com to invite us to your group meeting!