Tax Impact Information
The median value of a home in School District 197 is $237,200.

Annual Tax Impact*  Monthly Tax Impact*
Q1 - $117 million Bond for school additions, renovations and repairs 
$87 $7 

*Dollar amounts listed are estimates for a $237,200 home value.

Click here for additional tax impact information prepared by the school district's financial advisors, Ehlers & Associates, Inc. The site includes an online calculator to estimate the tax impact for your specific home value. It also has information regarding the Minnesota Homestead Credit Refund, a Special Property Tax Refund and a Senior Citizen Property Tax Deferral.

Ehlers has also provided the following estimates for how the passage of the proposed building bonds would affect property taxes of taxpayers in School District 197.

Chart with estimated tax impact for selected home values if bond is approved by voters

Click here to view a larger version of the Tax Impact Chart


COMPARING SCHOOL TAXES

The following chart provides a comparison of school taxes paid by District 197 homeowners to neighboring and other Metro Area districts.


Chart comparing school taxes in neighboring districts


TAX IMPACT OVER TIME

Through consultation with the district's financial advisors, the bonds proposed in the May 8 referendum would be structured so that the district would pay interest only through taxes payable in 2019. Beginning with taxes payable in 2020 the district would start paying off principal and the tax rate to property owners on these particular bonds will increase. However, the increase in payments on the proposed debt would be offset by reductions in payments on existing debt that will be paid off in 2020 and 2025. 

This is a common way of structuring debt to protect property owners from large fluctuations in tax rates from year to year (see analysis below).

Chart Key:    Red = Past voter approved bonds (ex. 2004 bond for facility improvements)
Yellow = Capital Projects "Technology" Levy
Black = Lease levy
Blue = Proposed bonds (May 2018)

Chart that shows existing commitments and proposed new debt