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If voters approve the bond referendum on November 5, 2024, property taxpayers would see an estimated impact of $0.86 per year on every $1,000 of taxable property value (not assessed value). This would result in an increase of approximately $7.96 per month for a home with an assessed valuation of $250,000.

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A commercial property with an assessed valuation of $550,000 would see a monthly tax impact of $30.78. For agricultural property with an assessed value $1 million, the estimated monthly increase would be $51.48.

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Calculating the tax impact can be a little complicated due to the state rollback and Homestead Credit. Below is a five-step process to provide some clarification: