Debt refinancing expected to lower tax bills
HILARY MATHESON | Hagadone News Network | UPDATED 13 years AGO
EDUCATION REPORTER Hilary Matheson covers education for the Daily Inter Lake. Her reporting focuses on schools, students, and the policies that shape public education across Northwest Montana. Matheson regularly reports on school boards, district decisions and issues affecting teachers and families. Her work examines how funding, enrollment and state policy influence local school systems. She helps readers understand how education decisions affect students and communities throughout the region. IMPACT: Hilary’s work provides transparency and insight into the schools that serve thousands of local families. | March 22, 2013 10:00 PM
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].
ARTICLES BY HILARY MATHESON
Flathead grad waits for new heart after life-changing diagnosis
Going into finals week, Flathead High School student Katelyn Baughman was ready to graduate early and excited to plan for college. In one night, her life and her family’s lives were upended.
Fair-Mont-Egan and Cayuse Prairie put levy elections before voters
School elections are May 5. Here is a roundup of what’s on the ballot in Fair-Mont-Egan and Cayuse Prairie.
Rural Flathead County school districts put levy elections before voters
School elections are May 5. Here is a roundup of what’s on the ballot in area districts, including Helena Flat, Fair-Mont-Egan, Deer Park and Cayuse Prairie.