SPECIAL ELECTION OF INDEPENDENT SCHOOL DISTRICT NO. 99 (ESKO), MINNESOTA - Question 2

SPECIAL ELECTION OF INDEPENDENT SCHOOL DISTRICT NO. 99 (ESKO), MINNESOTA

CARLTON COUNTY, MINNESOTA

A special election in and for Independent School District No. 99 (Esko), Minnesota, will be held on November 6, 2012, between the hours of 7:00 a.m. and 8:00 p.m., for the purpose of voting upon the following question:

SCHOOL DISTRICT BALLOT QUESTION 2

APPROVAL OF SCHOOL DISTRICT BOND ISSUE

___ YES

___ NO

Shall Independent School District No. 99 (Esko), Minnesota be

authorized to issue its general obligation bonds in an amount

not to exceed $2,700,000 to provide funds for the acquisition

and betterment of public school sites and facilities, including

athletic facilities?

BY VOTING "YES" ON THIS BALLOT QUESTION, YOU ARE VOTING FOR A PROPERTY TAX INCREASE.

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The annual dollar increases for typical residential homesteads, commercial/industrial properties and seasonal/recreational properties within the District are as follows:

Question 2 - $2,700,000 School Building Bond

Referendum

Estimated Pay

Type of Property Market Value 2013 Tax Impact

$25,000 $4.14

$50,000 $8.28

$75,000 $12.43

Residential $100,000 $19.81

Homestead $150,000 $34.86

$200,000 $49.91

$250,000 $64.96

$300,000 $80.01

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$25,000 $10.35

$50,000 $20.71

Commercial/ $75,000 $31.06

Industrial $100,000 $41.42

Commercial/ $150,000 $62.13

Industrial $200,000 $89.74

$250,000 $117.35

$300,000 $144.97

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$25,000 $6.90

$50,000 $13.81

$75,000 $20.71

Seasonal/ $100,000 $27.61

Recreational $150,000 $41.42

$200,000 $55.23

$250,000 $69.03

$300,000 $82.84

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(a) Taxable market value is the basis from which the net tax capacity is calculated. This value is not necessarily the price the property would bring if sold.

(b) Tax rate increase is derived by dividing the levy on tax capacity by the total tax capacity. The dollar increase in taxes payable is derived by multiplying the tax capacity rate increase and the tax capacity by the tax capacity rate.

The figures in the table are based on School District taxes for the school building bond referendum only, and do not include tax levies for other purposes. Tax increases shown above are gross increases, not including the impact of the State Property Tax Refund Program. Many owners of homestead property will qualify for a refund, based on their income and total property taxes. This will decrease the net effect of the referendum levy for many property owners.

If you have any questions, please contact Aaron Fischer, Superintendent, Independent School District No. 99, 2 East Highway, Esko, MN 55733, Phone (218) 879-7490.

By Order of the School Board

Clerk, Independent School District No. 99

Tags: legal notices, legals