The exact increase in property taxes will depend on the taxable value of your property, the total bond amount, and the timing of when the bonds are issued. Other variables that could cause the total amount to change over time include if the city is able to refinance the bonds at a future date in time (no earlier than 10 years after they are originally issued), any changes in the exemptions that are given, and the annual tax rate that is set.
The below examples show what the property taxes would be for a house of a given value with the state exemptions. T This information should be used as estimates only.
An example assuming all bonds are issued in the full amount authorized: A resident whose home is valued at $277,650 whose taxable home value after the homestead exemption is $222,120 is set to pay an additional $45.64 annually or a tax rate impact of approximately $ .02055 to the debt portion of the city's property tax rate.