The School District of Elmbrook (SDE) has sharpened its pencils and reduced the impact of renovating two high schools ($99.3 million) will have on residents' property tax bills.
This comes after the school district compared the additional daily cost of the referendum as less than a cup of coffee.
The Referendum Impact Calculator on the school district’s website now states:
“A $335,000 home, the average value in Brookfield, would pay $342 a year if both questions pass, and $312 if only the $99.3 million question passes. However, that home would not see a $342 or $312 tax increase over what it paid for debt service last year because of the district's pre-funding and its structuring of the Dixon/Brookfield elementary school bonds.
A $335,000 home paid $188 for debt service last year, or 56 cents per $1,000 of equalized value.
If both referendum questions pass, that home would pay an extra $191, or a total of $379, for debt service next year. If just the $99.3 million question passes, that home would pay an extra $164, or $352 total for debt service.
For those who want to be able to do the math with their own home value, here is how the debt service tax rate would change.
Residents on their December property tax bill paid 56 cents per $1,000 of equalized value for Elmbrook's debt service.
If both referendum questions pass, that would rise to $1.13 per $1,000 of equalized value annually through the 2016-'17 school year and then decrease gradually to 95 cents per $1,000 in the 20th year.”
Can we trust the information SDE is providing? Or will the real cost of passing the referendum be 50% more than the purported $99.3 million or 50% less.
As the fourth SDE paragraph says, it’s “only the $99.3 million question.”
