The district calculates the impact on your new taxes which this bond proposal would cost you only on the first year the bonds would be on the books. When they “adjust” the first year payment by making no principal payments on the one proposed bond and a tiny amount on the 2nd bond, and then blend this payment in with $1.37 million owed on old bonds, surely your NEW tax increase this first year is going to be much smaller than what the average amount will be the remaining 24 years. See our explanations (in red boxes) added to their two page projection report found here. (This two page report came right from the district’s Review and Comment Application which they sent to the MDE last summer.)
That average amount will be $4,823,000 for 24 years, 49.1% more than the $3,233,800, in taxes payable year 2019 – the year they used to calculate what your NEW taxes would be if this bond proposal would pass.
To conclude, take the impact on your taxes which they are calculating for 2019 (only) and add 49.1% to find what your real proposed NEW taxes would be, if this passes.
