THE COST
A fiscally-responsible plan to serve all community members.
Bond Referendum for Buildings
Cost: $16.4 million over 20 years
Tax Impact is $7/month or $84/year for a $150,000 home*
*the average home value in the school district.
Tax Credits Support School Programs and Reduce Referendum Ask
The project will qualify for a direct pay tax credit of up to $2.3M to the general fund to support school programs.
The state of Minnesota will pay for approximately $9.6 million of the bond amount because of property tax credits for agricultural property.
Calculate Your Personal Tax Impact
Click on the box below to visit the tax calculator and determine the specific tax impact for your home and agricultural property.
70% Tax Credit for Agricultural Landowners
The proposed bond project will receive aid from the School Building Bond Agricultural Tax Credit. This credit provides agricultural property owners a credit for school district debt service. This is an automatic reduction of property taxes paid. The legislature successfully passed this legislation in the 2017 session. The current credit is 70 percent and permanent law.
For this referendum, the State of Minnesota will pay for approximately $9.6 million of the bond amount because of the School Building Bond Agricultural Tax Credit for agricultural property.
The proposal will benefit the general fund. The utilities and maintenance savings from upgrading to more efficient mechanical systems will be about $30,000 per year. Also, the project will qualify for a direct pay tax credit of up to $2.3M to the general fund to support school programs.
Interested in More Tax Relief?
The MN Department of Revenue says many property owners qualify and don’t do the paperwork to claim the refund.
Homestead Credit Refund
Available for all homestead property*, both residential & agricultural - house, garage & one acre (HGA only)
Refund is sliding scale, based on total property taxes & income (maximum refund is $3,310 for homeowners & $2,640 for renters)
Special Property Tax Refund
Available for all homestead property*, both residential & agricultural (HGA only) with a gross tax increase of at least 12% & $100 over prior year
Refund is 60% of tax increase that exceeds greater of 12% or $100 (max $1,000)
Senior Citizen Property Tax Deferral
Allows people 65 years of age or older with household income of $96,000 or less to defer a portion of property taxes on their home
Deferred property taxes plus accrued interest must be paid when home is sold or homeowner(s) dies
Learn More!
The MN Department of Revenue says many property owners qualify and don’t do the paperwork to claim the refund.
Visit the Department of Revenue website at www.revenue.state.mn.us for more information
*Homestead property is physically occupied by the owner or owner’s qualifying relative as the principal place of residence.