Concerns of RCAS bond addressed and explained
RAPID CITY, S.D. — There has been much discussion among those for and against about the structure of the proposed Rapid City school bond. Much of the task of explaining all the numbers to both the taxpayers and the school board falls to RCAS Business Director Coy Sasse.
Sasse is tasked with reassuring board members and the public that taxes won’t be increased above 85 cents per thousand dollars of property per owner.
“On a $250,000 property that would be about $212 per year and about $17 per month,” Sasse said.
Voters are encouraged to measure by the property tax value and not the retail value. The bond is based on the entire property tax base of the district. With growth comes more tax money, helping the district pay the bond off.
“There’s some confusion in the community, I believe, that people think that we say we’re assuming there’s this amount of growth per year, whatever that figure is — under our current model it’s been four percent — that means your home or your specific property is going to increase by four percent and that’s not the case.”
The four percent relates to the overall property taxes throughout the district.
“Again our base model is based around a four percent valuation increase. But we’ve looked at best case scenarios and we’ve looked at worst case scenarios and we’ve looked at about a thousand different scenarios in between those. What I think is really important for the community to understand is that we’ve thoroughly, thoroughly evaluated these numbers.”
Sasse has assured board members that in the worse case scenario the 85 cent mark will not change.
“Under all those models the district — the board — feels very confident that the package that we’re putting forward and we’re proposing to fund this bond is one that is sustainable and one that we can achieve overtime.”