THE COST
The State of Minnesota will pay approximately $40 million of the referendum.
Our schools are aging and in need of extensive repairs.
Bond Referendum for Buildings
The owner of a home valued at $150,000 would pay $18/month in property taxes ($220/annually) if the referendum is approved.
The total ballot amount for the referendum is $74,395,000 with a term of 29 years.
A bond referendum of $75 million was supported by 58% respondents in a spring community-wide survey.
The state of Minnesota will pay for almost $40 million of the bond amount with property tax credits for agricultural property through the Ag2School program.
YME has the lowest property taxes in the region and is well below the state average.
Operating costs will be reduced.
Updated systems will reduce utility costs.
Updated facilities will reduce maintenance and repair costs.
Operating a single facility provides staffing efficiencies.
YME has the lowest property taxes in the region and is well below the state average (see chart below).
Based upon a $10,000/acre of agricultural homestead land
Based upon a $150,000 residential homestead property