Enter your Assessed Property Value:
*Enter value in NNNNNNN format. Omit any non-numeric characters.
Option 1 - Cost of Capital Referendum
(Total local bond issuance $35,803,000 to receive the matching state portion of $63,649,778)
The table below shows the cost to a homeowner of a property valued at $ over the course of 5 fiscal years. This option is designed to fund the first step of the Facilities Master Plan for Capital at a minimum level necessary for construction of 2 new Middle Schools and Safety and Security improvements.
Fiscal Year |
Proposed Tax Rate Change |
Increased Cost to Property Owner Each Year |
2020
|
0.0462
|
$
|
2021
|
0.0293
|
$
|
2022
|
0.0722
|
$
|
2023
|
-0.0027 |
$
|
2024
|
-0.0444
|
$
|
* Tax rates are estimates based on several factors including interest rates, bonds with twenty year maturity, assessed value of district, assessment to sales ratio, Kent County Impact fees, and a funding stream of four years. Any or all of these estimates could change resulting in alterations to the tax rate. Cost figures are rounded to two decimal places during calculation.
- OR -
Option 2 - Cost of Capital Referendum with Enhancements
(Additional $11 million Enhancement plus $500k in minimal Central Renovation.
Total local bond issuance of $47,303,000 to receive the matching state portion of $63,649,778.)
The table below shows the cost to a homeowner of a property valued at $ over the course of 5 fiscal years. This option would be similar to the above proposal, but with enhancements to the middle school program for increased value in construction purchases, like a geothermal heating system, and other building improvements to provide an advanced set of middle schools for Capital students and staff.
Fiscal Year |
Proposed Tax Rate Change |
Increased Cost to Property Owner Each Year |
2020
|
0.0462
|
$
|
2021
|
0.0865
|
$
|
2022
|
0.0861
|
$
|
2023
|
-0.0009
|
$
|
2024
|
-0.0465
|
$
|
* Tax rates are estimates based on several factors including interest rates, bonds with twenty year maturity, assessed value of district, assessment to sales ratio, Kent County Impact fees, and a funding stream of four years. Any or all of these estimates could change resulting in alterations to the tax rate. Cost figures are rounded to two decimal places during calculation.
- PLUS -
Cost of Total Tax Increase (Current Expense)
The table below shows the cost to a homeowner of a property valued at $ over the course of 5 fiscal years.
Fiscal Year |
Proposed Tax Rate Change |
Increased Cost to Property Owner Each Year |
2020
|
0.1200
|
$
|
2021
|
0.1200
|
$
|
2022
|
0.0300
|
$
|
2023
|
0.0400
|
$
|
2024
|
0.0500
|
$
|
* Tax rates are estimates based on several factors including interest rates, bonds with twenty year maturity, assessed value of district, assessment to sales ratio, Kent County Impact fees, and a funding stream of four years. Any or all of these estimates could change resulting in alterations to the tax rate. Cost figures are rounded to two decimal places during calculation.