Successful passage of the upcoming bond referendum means taxpayers in the Okoboji Community School District will see an estimated $1.25 increase per $1,000 of assessed taxable, after rollback, property value starting with their fall 2018 property taxes. This affects residential, commercial, and agricultural property within the school district boundaries. It is important to note that these dollar amounts are per $1,000 of taxable, after rollback, assessed valuation. Do not confuse assessed value and market value of property. The assessed value is not the “market value.” Assessed value is determined by the County Assessor, whereas market value is determined by the open real estate marketplace.
Below are tables on the estimated impact for residential, commercial, and agricultural property due to the proposed referendum. These increases would take effect with fall 2018 property taxes. It is estimated that the bond would be paid off in 20 years.
Residential Property with Homestead Credit
FY18 TAX RATE Compared to AREA School Districts
(land only on a per acre basis)*
Residential Property without Homestead Credit
The Okoboji Board of Directors has long been dedicated to keeping the levy rate for the citizens of the Okoboji Communities reasonable and fair. The Board of Education has maintained or lowered the total school tax rate levy since 2008. The district has the lowest school total tax rate in the State of Iowa.