How will this affect me?
The bond will create a 31 cent Interest & Sinking Tax Increase from .173 to .483
Zero tax rate increase for Senior Citizens with an age 65 freeze - $0
Properties with an Over 65 Homestead or Disabled Homestead have a limitation that sets the most that their property can be taxed. If the bond is passed, there will be ZERO Tax Increase on any property that falls under one of these two homesteads and:
- Has had no new improvements placed on the property, and
- Where the current tax liability (bill) is equal to their calculated tax limitation.
If a property has new improvements, the new value added to the account will adjust their limitation. If a property is paying less than their limitation, their liability (bill) can increase to, but not exceed their tax limitation.