To fund the $13.1 million plan, the school board has identified two funding sources including:
A general obligation bond for $13.1 million, which voters would be asked to approve on March 7. This will affect property taxes.
A combination of Secure an Advanced Vision for Education (SAVE/one-percent sales tax) funds and PPEL funds, which were previously approved by Bellevue voters.
HOW WILL THE BOND AFFECT MY PROPERTY TAXES?
The $13.1 bond is less than both of the prior two proposals in 2018 and 2019. By using multiple funding sources over a period of five to eight years with phased construction, the committee was able to minimize the tax impact. Property taxes will increase $2.70 per $1,000 of taxable valuation. The final taxable value of your property is a percentage of its assessed value after after credits. Below are examples of how taxes will be affected for both residential and agricultural land.
By being fiscally responsible, the district has been able to keep Bellevue’s levy rate low compared to peer districts. After the bond passes, Bellevue’s rate will still be lower than many of the districts in the River Valley Conference.
