Convince Me

[flintauqua]

Something has been niggling at me and I finally realized what it is.  I got 65% of my real estate taxes up to $700.00 refunded by filing the Homestead Claim.  The percentage refunded depends on your yearly income.  For income under $6,000.00 a year, 100% of the real estate tax will be refunded.  Income of $9,000.00 to $10,000.00 will get an 84% refund.  The lower your income, the higher the percentage of refund and the higher your income up to $29,100, the lower the percentage.  Even with a $100.00 raise in the tax, after the refund the taxes aren't so high.  Last year this was for people born before January 1, 1951.  It is a Kansas thing, but we do live in Kansas, don't we?

Any which way, I am not worried about an increase in the taxes on my home for the purpose of building a new grade school which should have been done at the same time the high school was built.

A couple of other tax considerations:

Last year I was able to deduct my property taxes on my federal tax return as an addition to my standard deduction.  In the past you had to itemize to deduct property taxes.  This chopped about $60 off my federal income tax.  Based on this, if my property taxes go up $100, it would actually be $85 after my income taxes decreased by $15.  (Disclaimer:  I am not an accountant.  Everyones tax situation is different, please consult your accountant or tax preparer for actual legal tax guidance)

Someone correct me if I'm wrong, but isn't the first $20,000 in appraised value exempted from the state mill levy for education?  It has been in the past.

And, does this exemption also apply to the local option budget mill levy?

[D Whetstone]

Also, as I understand it, the bond issue is for the full amount of building costs and does not figure in any FEMA or State-Aid money, so the figures you see on taxes are actually calculated on the HIGH side, and will likely be lower, especially in Years 2 & 3. 

This needs to be corrected so that there is no misunderstanding.  The information about property taxes being distributed is based on a $5.55M construction cost that will be financed by the sale of bonds to be amortized over 15 years at an estimated interest rate of 4.25% and this does include state aid (29% of principle and interest over the life of the bonds).  The percent of state aid could increase but that would not be know until 2010 - after the bond election.

What is not included in figuring the property tax is the FEMA payment.  This would be a reimbursement and could be applied to the principle which would result in earlier repayment. We can pay off the loan at 10 years (or anytime in between 10 and 15) w/out penalty.

Taxes will go down, as is the plan by the board, when they can lower the Local Option Budget.  Again, this could be done by making our operating expenses more efficient w/ centralized elementary school and by avoiding the costs of repairs that are needed on both of the current elementary school buildings.

David

[srkruzich]

Got a question on the statement when taxes go down.  Now we all know once a government entity gets a tax in place they never let it go.  Too easy to find other uses for the free money.  What guarantees does a property owner have that their taxes will go down?  Is it in writing, signed sealed as in a contract that they can sue if they don't go down? 

Sorry but when it comes to taxing the public, i am a pure skeptic when i hear taxes will go down.

[D Whetstone]

Got a question on the statement when taxes go down.  Now we all know once a government entity gets a tax in place they never let it go.  Too easy to find other uses for the free money.  What guarantees does a property owner have that their taxes will go down?  Is it in writing, signed sealed as in a contract that they can sue if they don't go down?  

Sorry but when it comes to taxing the public, i am a pure skeptic when i hear taxes will go down.

I would agree if we were talking about our State or Federal govt.  

The school board has not given any guarantee nor is there any contract.  They have stated that they want to lower the Local Option Budget.  These persons serving on the school board are tax payers also.  I believe that they want their taxes to go down also.  They have only been raised out of necessity as state aid has declined - and expenses have not (unless programming is cut).

David

[Lookatmeknow!!]

Ok, sixdogsmom.  I really have to state something.  I don't think we will convince you.  You have your mind set and no turning it around.  But I do wonder, if the economy was in a better state would things be better?  Or is it just that you can't see the big picture?  I do know that my husband and I are struggling to make ends meat also.  WE have three girls also.  Oldest goes to Moline, middle one in 1st grade, and youngest is in preschool.  I am really FOR building a new school.  By all the information that I have seen, I think that we wont see much bigger jump than last year.  And at least we will have something to show for it.  I mean, last years taxes were a big jump.  And if you have seen the paper this week and read the deliquent taxes, the majority of people that are behind are not even from here or don't not live here.  To me that is a real problem.

But back to discussion, so the numbers of students are going down.  The people that chose to live here still need a place for their children to go to school.  The bottom line here is that the district CAN NOT go on like they have for the last couple of years.  Something has to give, and if we don't build a new school, I am sure that one of the Elementarys with be shut down.  I am not .sure on this but I can't imagine keeping them both going and not having the money to run them.

Also, I really get tired of hearing that a school keeps a community alive.  Now come on, Moline and Severy both have great little towns.  Severy has really lost a lot of things in the recent years.   I think that Severy lost alot of people when the lumber yard, and grocery store shut down.  But we can't blame a town dying on the closing of a school.  It's the lack of people willing to shop locallly and support the town.  I can honestly say that I buy 95% or more of my groceries in Howard.  We get most of our gas in Howard, our tires and most machine or vehicle parts locally, at least what we can get here.  We also go to other communities in Elk county and support their businesses.  WE buy pizza in Longton and also Moline about once if not more a month.  I run a daycare business and do use alot of groceries.  But we put alot back into our communities.  It helps.

Sixdogsmom, can you say that you have a open mind to listen?  I hope so, cause I have an open mind and have listened to you

[mayflower]

Concerning the exemption on houses valued at $20,000 or less:  That exemption is only figured on taxes for the General Fund, not the LOB, Capital Outlay, or Bond and Interest.

[Jo McDonald]

Angie...I don't want to sound like I am trying to "pick an argument", but in all due respect to SDM.....She has a valid concern.  You and Jeff are still young.  Granted, you have a high cost of living, just as we all do, and you have a young family to support and educate.  SDM,  Fred and I ( all all other old people) pay the same prices at all the stores that you do.  The main difference being...We have NO wage earning years  left.  What we have now has to last us the rest of our lives.  We must be concerned about this.  Having to maintain a home w/all the costs as they are today, causes us to look closely - budget wisely and have grave concern about our finances.
 I am sure EVERYONE wants our children to have the best education possible - housed in well maintained facilities, and provided a future that will sustain them the rest of their lives.  But by the same token, we senior citizens had those same concerns when we were raising our families, and STILL have those concerns while being independent and self supporting.  While we are tightening our belts, adding more taxes are a little hard to squeeze in, sometimes.

 Jo

[Rudy Taylor]

I want to compliment my forum friends for this good discussion on your upcoming bond election.  The Elk County Forum serves such a good purpose when it comes to these discussions, and I've especially liked the civility and general thoughtfulness by those posting their comments.

[pepelect]

   We won't do that anymore..   




Rudy, you started all this.   One paper in every town was just wonderful until you came along and showed us that a combined resource gets the best of all involved. 


After Nov.  we should move to Montgomery county and merge the two colleges........



Next....One county Fair!!

[flintauqua]

And then put Howard County back together!