How Could Your Taxes Change if $51 Million Bond Issue Passes?

Now that we've seen what a proposed new high school might look like, let's see how building that school could affect Johnston school district taxpayers' wallets.

On Sept. 11, Johnston school district residents will go to the polls to determine if the district can issue $51 million in bonds for the construction of a proposed new high school.

The proposal is estimated to result in a tax increase of 99 cents per $1,000 in taxable valuation for property owners.

This means that a resident who owns a home with an assessed valuation of $100,000 could see an estimated annual additional tax of $45.44 or $3.79 per month more.

Additional tax calculations are available on the right.

If the bond passes, the first year property taxes would be affected is fiscal year 2014. The proposed bond issue is set to be repaid in 20 years.

However, future school boards could expedite the process if they find surplus money to pre-pay the remaining bonds.

The bond issue is just one piece of the district's $122.3 million facility plan.

The $122.3 million facility plan includes repurposing the current high school to an eighth- and ninth-grade building, repurposing the current eighth- and ninth-grade building to house Wallace Elementary and a district-wide preschool program, and converting Wallace to a district administration building.

A majority of the project costs will be paid for by sales tax and physical plant and equipment levy funds.

Community information meetings are scheduled for 7 p.m. at Johnston Middle School on:

• Thursday, Aug. 9
• Monday, Aug. 20
• Wednesday, Aug. 29
• Thursday, Sept. 6

See more stories on the $51 million bond issue and proposed new high school:

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