Taxpayers in the Forest Lake Area School District will see a smaller tax increase next year thanks to significant savings in interest rates for the school facilities project. The $143 million package of school building upgrades will provide a wide array of changes for the school district buildings, not the least of which is enhanced security within each school building.
According to Larry Martini, the district’s director of business services, the bond will cost taxpayers approximately 11 percent less than anticipated.broadstreet.zone(48036);
“We had originally estimated that, by the second year of the bond, a homeowner with a $200,000 house would see a $177 total increase in annual local school property taxes as a result of the passage of the bond,” Martini explained. “Because our district has an outstanding credit rating, and because of the better-than-expected interest rate bids we received for this project, the amount the district will have to pay in
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News and other stories about real people, places, and events in Forest Lake and nearby suburbs.