This page provides financial information for the Elementary Project (Sloan property). The information provides includes millage and anticipated median costs to taxpayers. This page will be updated as new information presents itself during the lifespan of the project.
What is the elementary project’s anticipated impact on property tax millage?
The exact millage impact cannot be determined due to potential alternative funding sources (private and governmental), reallocation of human resources, operational savings (gas, electric, and water), and other factors. This makes predicting the exact impact impossible.
Project Cost and Taxation Impact
- The K-2 Primary School renovation cost is $20.7 to $21 million.
- The estimated cost of the construction of the new 3-5 Intermediate Elementary School is approximately $33-$37 million.
- Total combined costs range for the elementary campus development ranges between $53.7 and $58 million.
- Conservative estimates for an increase in millage due to the elementary campus development would equate to 4.52 to 5 mills phases in over 5 years for both buildings and the campus development.
- One mill equates to $34 for the median FR homeowner.
- The median homeowner would see a total increase of between $154 and $170 over the five years due to the two projects and campus development.
- These figures do NOT include any potential savings, efficiencies, or alternative revenue sources that could reduce millage impact.