March 9, 2023

Referendum: Tax Calculator

BPS101 Bond and Interest tax payments are currently $9.1 million each year. That bond payment is spread across each household in the BPS101 School District boundaries. How much you pay as a homeowner is a factor of the total equalized assessed value of all of the homes in the district. If more homes are built, more homes share that bond payment. If the BPS101 Referendum passes on April 4th, the Board of Education pledges that the bond and interest payment of $9.1 million will not increase. If the Referendum fails, the current bonds will be paid off in 2025, and that bond payment will go away, which means a tax decrease for all homeowners.

This tax calculator will help you see the amount that your household pays of the $9.1 million each year.

A few things to note, the “Fair Value” of your home may be quite different than your estimate. To get the most accurate estimate of the Bond and Interest payment that your household pays, please pull your most recent tax bill. Here is an example of where to look for the Fair Value of your home. Additionally, the calculator uses $8,000 as the homestead exemption. The current exemption is $6,000 but will be increasing to $8,000 in the tax year 2023, paid in 2024.