PREPARING FOR THE FUTURE
BOND VOTE | NOVEMBER 5, 2024
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Tax Impact
Hampton-Dumont CSD has a history of prioritizing the needs of its property taxpayers. The district’s overall levy rate has declined 24.6% since 2010, when it was $17.10 per $1,000 of taxable property value.
The tax impact of an approved bond on November 5, 2024 would be $2.70 per $1,000 of taxable property value. For a $150,000 home within the Hampton-Dumont CSD's boundaries, that amounts to $14.55 per month.
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Calculating the tax impact for residential property can be a little complicated due to the state rollback and Homestead Credit. Below is a five-step process to provide some clarification:
The calculation for commercial property differs from residential property. The first $150,000 worth of assessed value is eligible for the same rollback as residential property, which is 46.3428%. Additional assessed value beyond that threshold has a commercial rollback of 90%.
For a commercial property with an assessed value of $250,000, the first $150,000 would have a taxable value of $69,514, while the remaining $100,000 would have a taxable value of $90,000. This means the net taxable value of the commercial property is $159,514. When the net total is multiplied by the proposed debt levy rate increase of $2.70 per $1,000 of taxable property value, it amounts to $430.69 per year.​​
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If the bond referendum is approved by voters, the district's new total levy rate would still be 8.8% lower than it was 15 years ago.
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