Article #3 in a Series >>>>> Considerations in Voting For or Against the Proposed MPS Referendum Requests >>>>> 2018 MPS Referendum/ Estimated Annual Tax Impact

The figures in the table given below concern the tax impact were

the Minneapolis Public Schools 2018 Referendum to pass, as

presented on the referendum portal of the MPS website:

 

Question 1

Operating Referendum

 

Questions 2

Capital Project Levy

 

Combined Annual Tax Impact

 

Type of Property

 

Residential Homestead

 

Estimated           Question 1         Question 2               Combined Annual

Market Value    Operating           Capital Project       Tax Impact

Referendum      Levy

 

$100,000                  $36                          $15                              $51

$125,000                  $45                          $21                              $66

$150,000                  $54                          $26                              $80

$175,000                  $63                          $32                              $95

$200,000                  $72                          $38                            $110

$225,000                  $81                          $44                            $125

$250,000                  $90                          $49                            $139

$300,000                $108                          $61                            $169

$400,000                $144                          $83                            $227

$500,000                $179                        $105                            $284

$600,000                $215                        $131                            $346

$700,000                $251                        $157                            $408

$800,000                $287                        $183                           $470

 

Commercial/Industrial

 

Estimated           Question 1         Question 2               Combined Annual

Market Value    Operating           Capital Project       Tax Impact

Referendum      Levy

 

   $250,000               $90                          $61                              $151

   $500,000             $179                        $132                              $311

$1,000,000             $359                        $275                              $634

$2,000,000             $718                        $561                            $1,279

$5,000,000       $1,795                       $1,420                           $3,215

 

Apartments &

Residential Non-Homestead

 

Estimated           Question 1         Question 2               Combined Annual

Market Value    Operating           Capital Project       Tax Impact

Referendum      Levy

 

   $250,000               $90                          $65                              $155

   $500,000             $179                        $131                              $310

$1,000,000             $359                        $262                              $621

$2,000,000             $718                        $523                           $1,241