Referendum

Referendum Project Update Full Article

The School District of Washburn – Long Range Planning Committee began creating a long-term facilities solution with the goal to address capital maintenance and make accessible and secure learning spaces for our school community. Many facility needs have been completed or scheduled for competition in the 10-year facilities improvement plan using annual operational money. This Facilities Referendum solution addresses critical projects too expensive to be included in the annual operating budget. 

When inputting numbers in the calculator, do not input any commas. For example, a house with a property value of $100,000 would be inputted as 100000, then click "Calculate."

The referendum plan utilizes a mult-phased borrowing approach with a total amortization of 21 yeas at planning interest rates of 5.00% - 5.25%. Mill rate based on 2023 Equalized Valuation (TID-OUT) of $460,818,447 with annual growth of 4.00% in 2024 and 1.00% thereafter. Represents an estimate of the maximum projected annual mill rate for referendum approved debt service beginning in 2024-25. Tertiary Aid Impact: 1.14% (2024-25 July 1 Aid Est.). All tax impact estimates provided by financial consultants from Baird.

Our facility needs cannot be addressed within the annual operating budget. Therefore, the District must ask taxpayers permission to borrow money to cover the cost of the proposed building project.

·       Referendum Amount: $14,430,000

·       Estimated Mill Rate Impact: $1.99

Estimated School Property Tax Increase

Prepared by Robert W. Baird & Co Incorporated.

** Please refer to the District’s referendum website for detailed financial assumptions.**

Please click on the document below for the full list of questions.