If the referendum passes….
In order to avoid unnecessary interest payments, bonds will be sold when the money is needed to pay for the projects. The current schedule is:
2017 (2018 tax year): $45,500,000
2019 (2020 tax year): $37,400,000
2020 (2021 tax year): $22,700,000
2021 (2022 tax year): $26,900,000
Rates based upon market conditions as of December 6, 2016 plus 0.50%. www.cusd200.org/Page/14179A
Higher interest rate results in higher property tax payments for bond interest.
Rather than disclosing an exact interest rate used in their calculations, the district chose to describe the interest rate as, “rates based on market conditions as of December 6, 2016 plus 0.50%.”
Somewhere else, I recall seeing 4.9%