This site provides information for taxpayers of Independent School District 534 – Stewartville, regarding how the district’s proposed referendum may affect property taxes. The site was prepared in cooperation with Ehlers, the district’s independent municipal advisor. If you have questions about the information on this site, please contact Ehlers using the information provided below.
The district will hold a special election on Tuesday, November 7, 2023 seeking voter approval of two ballot questions.
QUESTION 1 would authorize the district to issue an amount not to exceed $55,670,000 in bonds to provide funds for the acquisition and betterment of school sites and facilities, including, but not limited to, construction of a new K-2 school facility and various improvements throughout the District including new science classrooms at the High School, renovated science, STEM and general purpose classrooms at the Middle School and High School, secure entrances and offices at the Middle School, High School, and Bonner Elementary.
QUESTION 2 would authorize the district to issue an amount not to exceed $7,250,000 in bonds to provide funds for the acquisition and betterment of school sites and facilities, including, but not limited to, construction of a second athletic court at the proposed K-2 facility, a new community fitness center and weight room at the High School, and renovation of the weight room into a classroom at the Middle School.
QUESTION 2 IS CONTINGENT ON QUESTION 1, MEANING IT CAN ONLY PASS IF QUESTION 1 PASSES.
For more information on how these funds would be used, return to the District’s website.
Approval of the ballot questions would result in a property tax increase beginning with taxes payable in 2024, and the debt service tax levies would remain in place for 22 years. To determine the estimated impact of the proposed ballot questions on your 2024 taxes, follow the instructions below or view sample property types and values here.
Your 2024 taxes will be based on the 2023 Estimated Market Value (EMV), which was provided on the “Notice of Valuation and Classification” mailed by your county in March 2023. You can review the current value for taxes payable in 2024 using this Notice of Valuation and Classification, contact your county and ask for the 2023 EMV for taxes payable in 2024 or follow the instructions below to look up your 2024 EMV on your county’s website.
Click on the link below, select, “Agree” on the disclaimer and then enter in your search criteria on the next screen (make sure to change the “Asmt Year” to 2023 before selecting, “Search”. Select your parcel from the search results screen and under the “Reports” section, select “Notice of Valuation” and click “Go”. Use the number listed as, “Estimated Market Value” from the, “Step 1″ box in the calculator below.
Click on the link below, select “Agree” in the pop-up window and enter in your search criteria. Select your parcel from the search results screen and scroll down to the “Valuation” section. Use the value listed under the 2023 Assessment as “Estimated Market Value” in the calculator below.
Click on the link below, agree to the disclaimer that pops up and click, “OK” to proceed. Enter your search criteria, on the search results screen, select your parcel. Click to view “Value Notices” on the right side of your screen (blue box). Double-click year 2023 to bring up the Pay 2024 Valuation Notice. Use the number listed as, “Estimated Market Value” from the, “Step 1” box in the calculator below.
This property tax credit originally took effect with property taxes payable in 2018. For taxes payable in 2023 and later, the credit reduces taxes for owners of agricultural property in an amount equivalent to 70% of the taxes attributable to school district debt service for all agricultural property, except for the house, garage, and one acre. This credit is directly deducted from property taxes owed and applies to debt service levies for all types of existing and future bonds for construction and renovation projects. The credit is paid through an open and standing appropriation, which means that no action by the Legislature is required each year for this credit to be paid from the state general fund. The credit is automatically deducted on the tax statement and is included in the tax impact estimates provided by Ehlers.
If your household income is less than approximately $128,280, you may qualify for the Homestead Credit Refund (also known as the “Circuit Breaker” refund). This program, which has existed since the 1970s, is intended to reduce tax burdens for homeowners with relatively low incomes and relatively high property tax burdens. Some important facts about this program are summarized below.
If your total property taxes increase by more than 6 percent and more than $100 from one year to the next, you may qualify for a state refund equal to a portion of the increase. There is no income limit for this refund and the maximum refund is $2,500.
To determine eligibility and refund amounts, complete Minnesota tax form M1PR.
If you are 65 years or older and have a household income of $96,000 or less, you may be eligible to defer a portion of the property taxes on your home, through the Senior Citizen Property Tax Deferral Program. The program:
The 2023 Legislature modified the requirements of this program by increasing the household income limit to $96,000. This new income limit is in effect for taxes payable in 2024 and later years.