Worth County R-III School District
Bond Issue Information Sheet
Election Date April 5th, 2011
On January 20th, 2011, the Board of Education unanimously approved the need to place a bond issue for $.25 on the April ballot. The following information was compiled to provide district patrons an explanation of why the board decided to propose an increase in the district levy.
Why does the district need to issue bonds and raise the operating levy?
The bond money generated, $520,000, would pay for existing heating/cooling and energy saving projects the district completed in 2005. Currently the annual payment for these projects comes from funds designed for supplies, textbooks, technology and salaries.
Will the funds be used for any other project?
No, the only thing the money will be used for is to pay for existing heating/cooling and the energy savings projects the district completed five years ago.
School District Levies
Northeast Nodaway $5.88
Jefferson $5.60
Stanberry $5.43
North Harrison $4.49
Albany $4.48
Worth County (if approved) $3.77
South Harrison $3.59
Worth County (present) $3.52
What will the new tax levy be and how does it compare with surrounding districts?
The operating and debt service levies are set annually in August based on the district’s assessed valuation. The current levy is $3.52. The new levy with the $0.25 increase would be $3.77. The board of education would like to see the district roll back its taxes the first year $0.09 to make the total increase only $0.16. With the voluntary rollback the levy would be $3.68.
How much will my taxes increase if the bond issue passes?
For every $100,000 in value for a home or residence, the increase would be $30.40. If your house is worth $100,000, your tax increase will be $30.40 a year. (based on $0.16 increase)
How long will this tax last?
Ten Years. This tax would have to be voted on and approved in ten years to continue.
Worth County R-III School District
Effect of sixteen cent (.16) increase in levy
Value Assessed Tax Value Annual Increase
Residential $100,000 $19,000 $30.40
Agricultural $100,000 $12,000 $19.20
Commercial $100,000 $32,000 $51.20
Assessed Valuation is a % of value- residential is 19%,
agriculture is 12%, and commercial is 32%
What percentage of the vote is needed to pass the increase?
A 4/7 majority or slightly in excess of 57% “yes” votes for the bond issue.
What happens if the bond issue does not pass?
The district will continue to use funds designed for textbooks, technology, supplies and salaries to make the $60,000 a year payment.
Does the school get help from anyone else because we are raising our levy?
The school district will generate around $110,000 extra dollars over the next ten years because we raised our levy $.25. The school district will collect this money from state utility companies. The $110,000 would not be available for our school district without the $.25 increase.
How will the ballot language read?
Bond Ballot Language: Shall the Board of Education of the Worth County R-III School District, Missouri, borrow money in the amount of Five Hundred Twenty Thousand Dollars ($520,000) for the purpose of providing funds to prepay the existing Series 2005 lease financing in order to increase funds available for operating needs; and issue bonds for the payment thereof resulting in an estimated increase to the debt service property tax levy of $0.25 per one hundred dollars of assessed valuation? If this proposition is approved, the adjusted debt service levy of the School District is estimated to increase from $0.00 to $0.25 per one hundred dollars of assessed valuation of real and personal property.
Absentee Voting can be done up to April 4th at 5 p.m. Please contact Berta Owens at the Worth County Courthouse if you are interested in getting an Absentee Ballot.
For additional information contact the district office at 564-3389 or log on to the district website at www.wc.k12.mo.us
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