At $770 million, the College is able to issue bonds without raising its tax rate. Since property values are expected to increase, the college estimates that at its current tax rate, a taxpayer with a home worth $500,000 would pay up to $5 more per year over the first five years the bond package will cover, maxing out at $25\/year for the remainder of the bond. Seniors (age 65+) and residents with disabilities would see no tax increase as a result of the bond program.<\/p>\n
Affordability remains a primary concern for the College as it asks voters to consider the 2022 bond proposal. The college is able to issue bonds without raising its tax rate.\u00a0<\/p>\n
Since property values are expected to increase, the College estimates that at its current tax rate, a taxpayer with a home worth $500,000 would pay up to $5 more per year over the first five years.\u00a0<\/p>\n
The final estimated tax impact of the bond proposition for a standard homestead would be as listed in the table below. <\/p>\n
| Year<\/th>\n | Standard Homestead ($500,000 Home Value)<\/th>\n<\/tr>\n<\/thead>\n |
|---|---|
| 1<\/td>\n | $5\/year ($.47\/month)<\/td>\n<\/tr>\n |
| 2<\/td>\n | $10\/year ($.83\/month)<\/td>\n<\/tr>\n |
| 3<\/td>\n | $15\/year ($1.25\/month)<\/td>\n<\/tr>\n |
| 4<\/td>\n | $20\/year ($1.67\/month)<\/td>\n<\/tr>\n |
| 5<\/td>\n | $25\/year ($2.08\/month)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n \n","protected":false},"excerpt":{"rendered":" At $770 million, the College is able to issue bonds without raising its tax rate. Since property values are expected to increase, the college estimates that at its current tax rate, a taxpayer with a … Continue reading |