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Ririe Joint School District #252

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November 3rd Bond Election Information

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What is bond equalization?

Bond equalization is a state-funded financial assistance program to help school districts pay their annual bond interest and redemption payments. Currently, Ririe SD has a 28.4% subsidy, which reduces the tax burden on local property owners.

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Levy Rate

Our current bond levy rate is 5.72 or $572 per $100,000.

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If the bonds pass the anticipated 2022-2023 levy rate will drop to 4.25 or $425 per $100,000.

After that, we anticipate the 2023-2024 levy rate will drop to 3.75 or $375 per $100,000.

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How will this affect my taxes?

Levy Rate Example Sheet

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Current Tax Rate

2022-2023 Tax Rate

2023-2024 Tax Rate

Assessed Value

Taxable Value (after 50% up to 100K exemption)

5.72 (taxable value multiplied by .00572)

4.25 (taxable value multiplied by .00425)

3.75 (taxable value multiplied by .00375)

$100,000

$50,000

$286

$213

$188

$200,000

$100,000

$572

$425

$375

$300,000

$200,000

$1,144

$850

$750

The table does not factor in market growth or changes to the assessed value of your home.

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We Can’t Afford to Wait!

  • The district will pay off our existing bond in March of 2021.
  • Interest rates are at an all-time low.
  • Equalization payments from the state will pay 28.4% of our bond.
  • Our gyms are overcrowded. Student-athletes are practicing early in the morning and late into the evening.
  • Our current bus facility has several structural issues.
  • We no longer have a facility for our wrestling team.
  • Locker room space is inadequate when visiting teams come to our facility.

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Bond for Maintenance Projects

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Term: No more than 12 years.

Interest rate: 1.36%

Bond amount: $1,200,000

Total cost to taxpayers: $968,382*

*Total cost to taxpayers is calculated by adding the interest payment to the original bond amount and subtracting the bond equalization payments which are made by the state.

Projected tax per $100,000 of taxable assessed value:

$44.58 annually, or $3.72 per month

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Bond for Construction Projects

Bus/Maintenance Facility, Wrestling Room, Auxiliary Gym, and Visitors Locker Room

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Term: No more than 12 years.

Interest rate: 1.13%

Bond amount: $6,415,740

Total cost to taxpayers: $4,996,747*

*Total cost to taxpayers is calculated by adding the interest payment to the original bond amount and subtracting the bond equalization payments which are made by the state.

Projected tax per $100,000 of taxable assessed value:

$230.01 annually, or $19.17 per month

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Remember to Vote

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on November 3rd!