Fiscally Responsible
What is the estimated tax impact?
The Bond requests voter permission for the district to purchase $63,710,000 in bonds to invest in building upgrades and maintenance. It would cost the owner of a median-value home of $400,000 less than a dollar a day (approximately $28 per month). This includes the cost of project building materials, the labor needed to perform this work and the necessary financing fees. You can determine the estimated tax impact on your specific property using the link provided here.
What is the estimated annual savings of this investment?
If approved, the proposed plan would help our district gain efficiencies that would provide significant annual savings.
Click the link above and
enter your home’s
estimated market value.
How does a Bond Referendum Work?
A bond referendum is an election that allows local residents to decide whether a school district should incur debt by issuing bonds to fund improvements to the district’s facilities. Approval of the referendum gives the district the ability to make large-scale improvements more efficiently than using the yearly maintenance budget.
School districts issue bonds to obtain the funds necessary to pay for construction and professional services. The district pays back the bonds over a fixed period of years with revenue from property taxes and aid received from the state. In the last 12 years, over 240 Minnesota school districts have passed bond referenda to finance construction projects.
School Districts are the only government entity that has to get voter approval to do a bond. Cities and Counties have the ability to raise taxes without voter approval.
Why is now the time to go to Referendum?
Community
Based Plan
We gathered input from staff members, students, and our community to produce
a prioritized plan.
Planning
Since 2022
Chisago Lake’s School District has been engaged in facility planning since 2022, working with our school board, staff, and community to define priorities.
Beyond our budget
The prioritized needs cannot
be addressed within the
District's annual budget.
needs will
not go away
The needs will not go away,
and will only become more
costly to address in the future.