On November 7th Mora Public Schools is holding a Bond Election to restructure funding for a portion of the FirstLight Community Wellness Center. A 'YES' vote on this referendum means that homeowners, businesses and agricultural property owners will see a significantly smaller increase because a 'YES' vote means more state aid. So why does saving money require a vote? The current lease levy is not a voter-approved levy it is approved by the school board and the state. However, general obligation bonds require voter approval which in general have a lower interest rate and qualify for state aids. An added bonus is the new state agricultural tax credit applies to general obligations bonds, but not for the lease levy.
Mora High School Principal, Brent Nelson, pointed out some of the confusion with this referendum "I wish more people would understand by voting 'YES' you're not voting 'YES' I want this, You're voting 'YES' I want State Aid. On the ballot it's still gonna say, because it legally has to, 'by voting yes you are voting for a tax increase', but it's the opposite"
So just how much is voting 'NO' going to cost Mora property owners? According to the Ehlers Inc., the vote could double the property tax in some cases.
For a better estimate of just how much it might cost you as a Mora property owner click the link below to calculate.