(Pocatello for Accountable Government Entities, October 5, 2023)
Pocatello-Chubbuck School District 25’s new TAX IMPACT sheet illustrates the full disclosure that P.A.G.E. believes is critical for voters to understand in their consideration of the Bond ballot question.
- 2023’s ACTUAL Tax Levy Amount is @ $10,415,434.
- 2024’s ESTIMATED Tax Levy Amount is @ $14,309,228
The ESTIMATED difference between 2023 Tax Actual and 2024 Estimated Tax is a $3,893,794 INCREASE.
IMPORTANT NOTE: That change is NOT solely due to the addition of a bond. $336,469 of that amount is the annual 5% School Plant Levy increase. This “difference” is also subject to change dependent upon the final 2024 SD Facilities Fund distribution. That distribution is anticipated to drop from $4,563,948 to an estimated $3,839,820. The estimated BOND payment (if approved) is $2,833,197 which would be reduced to $0 due to the application of the State’s SD Facilities Fund.
Bottom line, the approval of the bond adds an estimated annual $2,833,197 in taxpayer liability. The out-of-pocket impact is dependent upon multiple factors including, but not limited to the currently UNKNOWN continuance of and/or annual distributions of the State’s subsidy (aka School District Facilities Fund) for the next fifteen (15) years.
We appreciate the District’s efforts and time to create this document.
Please SHARE THIS POST AND DOCUMENT WITH OTHERS. The ballot still reads ” . . . the actual estimated tax impact of the bond is $0 per $100,000 of taxable assessed value, per year, based on current conditions.”
Without this new information, there may be some taxpayers who will anticipate a different outcome next year should the Bond pass.
You can find it on the School District’s website at: https://resources.finalsite.net/…/SD25GeneralObligation…
The School District’s Bond Information page is found at: https://www.sd25.us/district/elections-bond