Here's how to figure your share of the cost

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The Iola Register

To see how much your property taxes are likely to increase, just pull out your most recent property tax statement. Find the “assessed valuation.” 

The assessed valuation represents 11.5 percent of the actual value of residential property. For commercial property, it’s 25 percent of the actual value. For farm property, the assessed valuation depends on production value; it’s calculated by multiplying the average income per acre times 30 percent. 

For example, if you own a $70,000 home, the assessed valuation is $8,050.

Once you know the assessed valuation, multiply that by .01562 to find out how much you’ll pay each year for a new elementary school (Question 1 on the April 2 ballot). To find out the monthly cost, divide by 12. 

To find out how much you’ll pay for a new science and technology center (Question 2), multiply your assessed valuation by .00434. 

For the HVAC system (Question 3), multiply by .00176.

Add those results to see what it would cost if all three questions are approved.

If that much math seems overwhelming, Steve and Bret Shogren of George K. Baum & Company provided examples:

— The owner of a $70,000 home would pay $125.74 ($10.48 per month, 35 cents per day) to build the elementary school, $34.94 for the science and tech center, and $14.17 for the HVAC system. Total for all three: $174.85 ($14.57 monthly).

— For business owners, based on commercial property worth about $50,000: $195.25, $54.25 and $22. Total: $271.5 ($22.63 monthly).

— For the owner of 160 acres of a dryland farm, $131.26, $36.47 and $14.79. Total: $182.52 ($15.21 monthly).

The Iola Register

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Iola, KS 66749
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