Stewardship Plan - No Tax Increase

Because the debt to build the Middle School is retiring, the maintenance and infrastructure work in the facilities plan can be performed with no increase in the existing tax levy for schools.

Educational Improvement Plan - $0.71 Mill Rate 

The exact tax cost of the second alternative, which would pay for additions to three schools and permit extensive renovation, will depend on the term of the bonds floated and the interest rate the district can obtain.

Using an estimated interest rate of 5.5% on the bonds and a 20-year term, the cost of borrowing would be as follows:

$250,000 Home ...... $177

$350,000 Home ...... $248

$450,000 Home ...... $319

To calculate the tax impact on your home using the same assumptions, multiply a mill rate of $0.71 for each thousand dollars of valuation.

Frequently Asked Questions

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Key Facts

Interest free bonds may be available to the district from federal stimulus funds, but they cannot be applied for until a referendum measure has passed.

The 71 cent mill rate includes 37 cents in state aid that will be lost for exceeding the spending limit under the state's penalizing formula.  

Property values remain strong in Whitefish Bay, even in the current downturn. Values are often tied to the excellence of the schools. Continued perception of quality is important. More state-of-the-art facilities could help.

One downside to discussing all of the flaws in the district's buildings is the tarnish that will remain on the image of our schools unless the problems are corrected. The genie is out of the bottle.