In July of 2021, the school board approved a $18,375,000 Long Term Facility Maintenance (LTFM) plan. This plan allows the school board to use its authority (voter approval is not needed) to address significant health and safety facility maintenance needs. The State of Minnesota expects boards to use this authority to take care of basic needs for the functioning of buildings and the health and safety of students and staff.
In August of 2021, the school board called for a special election on Tuesday, November 2, 2021, to (Question 1) renew the existing technology levy and (Question 2) authorize general obligation bonds not to exceed $26,450,000 for facility improvements. Unlike the LTFM plan, these two questions will be presented to voters for approval.
TAX IMPACT ON BOARD AUTHORITY (voter approval is not needed)
Board Authority - LTFM is $18,375,000
$63.00/year = $5.25/month (based on Sauk Centre home – average market of $175,000)
TAX IMPACT ON QUESTION 1 (voter approval is required)
Tech Levy - $259,805/year
Renewing - no additional tax impact
TAX IMPACT ON QUESTION 2 (voter approval is required)
Learning Environment Improvements for $26,450,000
$232.00/year = $19.33/month (based on Sauk Centre home – average market of $175,000)
AG2SCHOOL TAX CREDIT
Fortunately, the Minnesota Ag2School Tax Credit is a great benefit to the members of the Sauk Centre agriculture community. This tax credit reduces taxes for agricultural property owners on existing and future school building bonds. Ag2School is a 60% automatic tax credit (for property taxes payable in 2022) provided to all agricultural property. By law, the tax credit is scheduled to increase to 70% for property taxes payable in 2023 and thereafter. The total impact of the Ag2School credit will result in the State of Minnesota paying a significant portion of the total bond project cost.
TAX IMPACT CHART BELOW (click to enlarge)
HOW DOES THIS AFFECT ME?
Grab your tax bill and use the link below to find your tax impact using our tax calculator – TAX CALCULATOR COMING SOON!
Pat Westby, Superintendent