Cost breakdown

Posted

The money will come from:

• City unrestricted funds: $300,000

• Community Betterment funds: $250,000

• Maximum bond amount: $800,000

What that means for taxpayers:

According to a document handed out at the town hall meeting Nov. 28, a 15-year bond would cost a homeowner with $100,000 household valuation approximately $65 per year. A 20-year bond would cost $55 per year. That equals $975 or $1,100 per homeowner over the life of the loan.

Those who qualify for a Homestead Exemption will see little to no impact on their taxes with this bond. Homeowners may apply for the exemption at the Seward County Assessor’s Office.

Project planning:

The same document states that the city paid off its bonds on the fire station and lagoon during the 2015-16 budget year. Its only other bond at this time is on the water tower.