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Taxes Increase In Twin Falls After Bond Passes
Twin Falls, Idaho ( KMVT-TV / KSVT-TV ) If you live in the city of Twin Falls and are a homeowner, more money will be coming out of your pocket for taxes.
On Tuesday, voters approved a 73.8 million dollar bond for the Twin Falls school district.
Voters approved the construction of three new schools.
The 25-year bond covers two new elementary schools, a middle school and upgrades to canyon ridge and twin falls high schools.
"We have conservatively estimated that it will be about 66-cents per thousand value of property or home value. That would be after the property tax exemption. If you own a house worth $150,000 your taxes would go up about $4.13 per month,” said Superintendent Dr. Wiley Dobbs.
In addition to this recent passage, last year, residents approved a $38 million-dollar bond in the city of Twin Falls.
This will expand the capacity of the wastewater treatment facility. It’s included as an increase on your sewer bill.
"We anticipated based on interest rates and the amount of money that we needed to bond for that the average resident would only see an increase of $5.21 per month on their sewer bill to help pay for that debt,” said Lorie Race, City of Twin Falls.
In 2010, voters approved a revenue bond; you see this tax on your utility bill, which is $10.75
"With the City of Twin Falls we have no debt that is paid for by property tax dollar. We do have debt in our enterprise funds; the water fund and the sewer funds. It's the revenue in those systems that pay that debt,” said Race.
Beginning in November you could start seeing an increase on your property tax regarding the school district bond.