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ELK RIVER AREA SCHOOL DISTRICT <br /> Our r n is torT 1 r, r O.W our diverse learners, to shape their futures, <br /> to accomplish their dreams and to contribute positively to our r and global communities. <br /> What's it going to cost? <br /> If voters approve both questions, taxes on a $250,000 home would go up about$42 per year, or about <br /> $3.50 per month. <br /> All commercial, industrial and apartment building taxes would go down.According to ISD 728's financial <br /> advisor, Ehlers and Associates, the relatively low additional tax impact, including commercial and industrial <br /> tax reductions is the result of several factors including the fact that local taxpayers won't be paying the <br /> bonds alone; the state of Minnesota will be paying about 40-41 cents on each dollar of bonding. <br /> The state would also pay about a 30%of the$5.9 million ($409.67 per student) operating levy question. <br /> What happens if both questions fail? <br /> Considering student enrollment growth trends and current and future space needs, as well as comments from parents <br /> and residents, the school board has determined new learning spaces must be built. The classroom addition at <br /> Rogers Nigh School as well as additions at two of the three southern elementary schools would address urgent E-12 <br /> classroom space needs. These projects would cost $22 million and would be funded via lease levy, with NO state <br /> funding assistance. <br /> If both questions fail ... the tax increase on a $22 million lease levy (pay as you go) <br /> is estimated by Ehlers and Associates to be $79 annually on a $250,000 home versus <br /> $42 annually for the voter-approved bond and levy projects in Questions I and 2. <br /> The School Board prefers the voter-approved bond/levy approach because it has less tax impact thanks to state <br /> assistance.A voter-approved bond would also address more needs with a smaller tax increase. <br /> What can you do? <br /> Make informed decisions November 4. Learn the facts. Invite us to your neighborhood gathering or club meeting <br /> to get the facts firsthand. Share the information with your family, friends and neighbors. <br /> Continue to watch www.elkriver.k12.mn.usfStrongSchools, face book.comlisd728 and twitter.comlisd728 <br /> for on-going updates and more information all the way to election day. <br /> Prepared and paid for by Independent School District 728,Elk River Area School District 728,815 Highway 10,Elk River,VIN 55330.This publication is not circulated on behalf of any candidate or ballot question. <br /> 1 ;trite 0 �t www.elkriver.kl2.mn.us/StrongSchools <br />