The Cost
Learn about the investment of the plan.
How much does this plan cost? How does this impact me as a taxpayer in the district?
Now that the referendum is approved, the district will invest $21.35 million into key facility improvements for Goodridge Public School. This amount includes all issuance and financing costs.
Like a mortgage payment, bond payments are made up of both principal and interest amounts. Now that the single-question ballot is approved, the estimated tax impact on a $100,000 residential home in the district will be approximately $35 per month starting in 2024. The bonds will be issued for a period of 20 years.
If you own any agricultural property, please use the Agricultural Property section on the tax calculator for all of your properties (regardless of classification). Do not use the Residential Homestead Property calculator as it may not provide you with an accurate estimated tax impact calculation.
Are you an agricultural landowner? Learn about the State of Minnesota’s Ag2School Tax Credit
Ag2School is a 70% tax credit provided to all agricultural property except the house, garage, and one acre surrounding the agricultural homestead. This is not a tax deduction – it’s a dollar-for-dollar credit and is an automatic tax credit paid directly by the state with no application required. This credit would remain at 70% for the life of the bond.
Ag2School credits would pay for approximately 60% of the project’s total debt service payments.
If you own any agricultural property, please use the Agricultural Property section on the tax calculator for all of your properties (regardless of classification). Do not use the Residential Homestead Property calculator as it may not provide you with an accurate estimated tax impact calculation.
