D91 patrons will go to the polls May 16 for D91 facilities election
BOISE, Idaho (KIFI) - The Idaho Falls Board of Trustees is asking parents and patrons to go to the polls on May 16 to vote on a School Plant Facilities Reserve Fund Levy to pay for a new elementary school on
Idaho Falls’ south side.
The levy would generate $3.3 million a year for the next 10 years. The district will use the money to build a new school through a lease purchase agreement. Lease purchase agreements are a relatively new way to fund municipal construction projects in Idaho, but they have been used successfully around the state.
The Board of Trustees chose this new approach because the lease purchase agreement matches the maximum 10-year term of the levy so tax collections are less than on a 20-year bond, saving on interest payments.
The new levy would cost $47 a year per $100,000 of taxable value. So, on a home with a taxablevalue of $300,000, the tax impact would be $141 a year. (Home Value of $425,000 minus Homeowners Exemption of $125,000 = Taxable Value of $300,000).
The levy needs 55 percent approval to pass.
For more information about the levy, go to www.ifschools.org/facilitieselection.
Polls will be open from 8 am to 8 pm. on Election Day on May 16. Voters will vote where they vote in any regular election. For more information on poll locations and more, visit the Bonneville County Elections Office website or call (208) 529-1363.
