Kalispell Public Schools is refinancing $10 million in high school bonds, which may result in savings for taxpayers in the school district.

The $10 million is part of a larger $39.8 million bond request approved by voters in 2004 to build Glacier High School and renovate Flathead High School.

There is a projected gross savings estimate of more than $1.3 million over the life of the bonds, which mature in 2025, if about a 2 percent interest rate is locked in.

These estimates would mean owners of a home valued at $200,000 could expect a savings of approximately $2.74 on annual property taxes and about $4.10 annual savings for owners of a home valued at $300,000, according to estimates from D.A. Davidson.

Currently, owners of a home valued at $200,000 are paying $58.23 and owners of a home valued at $300,000 are pay $87.37 annually for the full high school bond amount, according to District Clerk Gwyn Andersen.

The bond sale tentatively is scheduled for April 10.

The district may choose to refinance another $10 million in bonds in the fall to realize more taxpayer savings than if the bonds were refinanced as one amount, Andersen said.

Reporter Hilary Matheson may be reached at 758-4431 or by email at [email protected].