Can you afford a property tax increase?

Voters, consider these facts before you cast your vote on the Meridian 223 referendum.

The district may say it was a perfect storm, but it didn’t happen overnight. If you include FY15, 11 out of the last 17 years, the district has spent more than they have taken in.

The senior assessment freeze will not protect against a rate increase. The assessed value of property is frozen, BUT the rate is not.

If your property value goes up 5 percent each year for seven years, your $100,000 home at “its only” $191.33 increase would be $270.69 by the end of seven years. A 41.5 percent increase in this Ed Fund, this is without any other rate increases or even higher assessments. One of the first things home buyers ask before buying is, “How much are the taxes?”

Seven years is a long time to be locked into the additional tax expense. Think of what phase of life you are in now and where seven years may take you. Can you really afford this increase for not only today, but for seven years?

Know how this additional $0.70 increase (25 percent) to the Education Fund rate affects you over the next SEVEN years.

Jake Henry
Rockford

From the Oct. 29-Nov. 4, 2014, issue

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