Taxpayers to get a break after sale of school bonds

Following the recent sale of school building bonds that will fund $54 million in construction within Kalispell Public Schools, taxpayers can expect to pay less than initially estimated during the October 2016 election.

Taxpayers who own homes valued at $200,000 in the elementary district can now anticipate annual taxes to increase by $93.24. This is $23.58 less than pre-election estimates.

Taxpayers who own homes valued at $200,000 in the high school district can expect annual taxes to increase by $46.44 — $12.02 less than initial estimates.

The true interest cost (the average over the 20-year bonds) stands at 3.09 percent. Pre-election estimates were at 3.39 percent.

The district worked with D.A. Davidson to sell the bonds.

“D.A. Davidson calculates the savings in interest over time based on this combination of principal and estimated premiums,” said Kalispell Public Schools Director of Business Services Gwyn Andersen. “In the elementary side alone, based on what our original estimates were, we saved $8.5 million in interest over the life of the bond. So that’s good news for taxpayers as well.”

On the high school side she said that amounted to “almost $10 million in interest savings over time.”

Reporter Hilary Matheson may be reached at 758-4431 or hmatheson@dailyinterlake.com.