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Sunday, July 13, 2014

Your cost if Prop 1 passes

Friday, April 2, 2010

A lot of time, effort and money has been devoted to promoting the passage of a $40 million bond issue, called Proposition 1, for the Cape Girardeau School District. Proponents have explained in great detail where the money will be spent and the resulting improvements. The presentations are slanted toward getting the bond issue passed.

Where will this money come from? It will come from school district taxpayers when the current tax sunsets. If passed, Proposition 1 will continue to collect each year 69.82 cents per $100 of assessed valuation of real and personal property. That sounds small, but how much money does that represent?

To get an approximate amount, take your 2009 property tax and personal property tax and add them together. Multiply this number by 0.14. The following table is an estimate of the amount you will pay each year:

2009 personal/

property taxes Prop 1 money

$100 $14
$500 $70
$750 $105
$1,000 $140
$2,000 $280

If Prop 1 passes, the Prop 1 money will be collected each year for many years after the current tax ends. If Prop 1 doesn't pass, your tax could go down the amount of Prop 1 money after the current tax ends.

Now you know how many dollars are at stake for you personally when you get out and vote Tuesday.

DENNIS DOBSON, Cape Girardeau