ANOTHER
Capitan School Bond Election
$22,000,000 - August 15, 2017
   For Less Than 500 Students in the Entire School (K-12)!   

 
      Back to Home Page
      Bond Overview
 Link to documents & detail pages below: 
Property Tax Increases?   
      What Will the Bond be Used For?
How Many Students Will Benefit?
Can Residents Afford the New Debt?
Prior Bonds
Bond Limits, Structuring & Expenses  
Voting Dates & Eligibility
Capitan School District Boundaries
Bond Proclamation
School Board Links
Want to Discuss the Bond?
 (Info@CapitanSchoolBond.com)

 


Property Tax Increase
(See below for an explanation of Mill Levy)

If passed, the new $22,000,000 bond authority will result in a 2.32 Mill Levy increase, and School Debt Mill Levies will remain higher than today's Mill Levy for over 20 years (until all of the debt is paid in 2040).
   
The Mill Levy (for the currently outstanding general obligation bonds (2103 construction bond and 2015 technology bond) is 1.181.
 
The proposed increase in Mill Levy for the series of proposed bonds, totaling $22,000,000, is 2.32, which is structured to limit the combined Mill Levy to not more than 3.5.



Mill Levy Explained

Mill Levy is the annual tax amount, payable for each $1,000 of a property's taxable value, to be applied toward repayment of the bond.

    Example for New Bond:  
 
Taxable value of property
 
$100,000
 
 
Divided by 1000
  =  
100
 
 
Mill Levy
x
2.32
 
 
Tax amount to be
applied toward repayment
of the new bond
=
$232.00
Increase Per Year
         
    Example for Combined Bond Debt:  
 
Taxable value of property
 
$100,000
 
 
Divided by 1000
  =  
100
 
 
Mill Levy
x
3.46
 Projected
 
Tax amount to be applied
toward repayment of bonds
=
$346.00
 Per Year for Payment of Bonds
         

  www.CapitanSchoolBond.com