How Much Will it Cost?
The 2011 Bond will not raise the millage. Instead of a small anticipated tax decrease in 2012, the millage will remain at 1.3 mills until 2016 and then start to decrease. The 2011 bond millage will last only 9 years (expires 2021) and will be in effect at the same time as the 2009 bond(expires 2035).
A net-zero increase means the anticipated fall-off in 2009 bond revenues will be offset by a slight rise in receipts from this new bond.
This is not an increase over the current millage. By keeping the rate at 1.3 mills until 2016, homeowners will not see a reduction in the millage rate as quickly. Over 9 years of the bond, the estimated average millage per year is 0.21 mills ($0.21 on each $1,000 of taxable value)
The chart above does not take into account deductions you may be eligible for if you itemize on your federal tax return.