What are tax impacts for the Bond?

Here are the numbers folks have been asking for! This is a slide from the presentation to the Ridgefield School Board showing the proposed bond financing amounts and tax increase.Tax Impact graph

 

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  • Bianca
    Reply

    Our house and property is valued at about $650,000; is it safe to assume that we are looking at about $500 a year increase? I added the taxes for $450K and $200K values. Since we are retired we will want to make sure we budget for that increase. Thanks much!

    • admin
      Reply

      Hi Bianca,
      The proposed tax rate increase at this time is $ .77 per 1000 of home value. Your calculations would be correct with these numbers. However, you tax bracket and deductions could decrease that amount. In addition, the more homes that are built diffuses the tax rate. Meaning the total amount needed of approx $78 million is divided amongst the total number of homes, so as the number of homes increase, the per home tax rate goes down:)

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