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(Pocatello for Accountable Government Entities, September 28, 2023)
BE INFORMED
- The BOND TERM is 15 years.
- SD25 estimates it will receive $25M in insurance money. SD25 denies being underinsured. Therefore, sufficient insurance money exists to replace the damaged portions of HHS.
- The “Current Conditions” in SD25 ballot language are NOT guaranteed for 15 years. Legislative action and/or funding could change circumstances.
- Claiming “$0 tax impact” is a strategy to promote the Bond.
- There is NO guarantee the Bond will remain a $0 tax impact for the full 15-years.
- Taxpayers LOSE intended legislative TAX RELIEF due to a BOND.
WITHOUT A BOND, 100% of the School District Facility Fund (estimated at $3.8M on the SD25 flyer for next year) would be applied to reduce the SD25 Supplemental Levy.
NOTE: You will see these savings in December on your 2023 tax bill as this year’s School District Facility Fund ($4.5M) REDUCES the SD25 Supplemental Levy for taxpayers.
There WILL BE TAX IMPACT when you compare 2024 taxes “WITHOUT BOND” versus 2024 taxes “WITH BOND.”
- OPTION 1 – WITHOUT A SD25 $45M BOND results in continued taxpayer tax relief (subject to the legislature) as 100% of the State School District Facility Fund dollars would be applied to reduce the SD25 Supplemental Levy “tax ask.”
- OPTION 2 – WITH A SD25 $45M BOND the State funds would first be applied to the Bond and the remaining amount (if any) would be applied to reduce the SD25 Supplemental Levy, resulting in LESS TAX SAVINGS which defeats the intended purpose of HB292.
SD25 proposed a budget of $26K to “Inform and educate” the voters regarding the Bond Election.
