For a property owner with a $100,000 annual property bill, this amounts to approximately $71 in additional fees each year for the term of the bond. Other examples and estimations are below.
|Property Value||Estimated Amount of Additional Taxes|
The interest rate at the present time is approximately 3.2%. The interest rate would be locked in at the rate at the time the bond is approved.
The bond breakdown is as follows:
City Hall – $9 million
Parking structure at new City Hall – $1 million
Police Department Retrofit and Municipal Courtroom at Scott Street – $3 million. The new courtroom would meet all federal and security guidelines.