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II I A levy approved by voters in 1986 will expire in 2008-09. It currently provides more tban $3 million a year. Tbis fall tbe Scbool Board of Mounds View Public Scbools is asking voters to replace tbat levy witb a new levy. If ap/Jroved . . . . It would provide about $10 million of revenue in 2007-08. Of this revenue, more than $3 million is from the current levy being renewed, and nearly $7 million is new money. . The levy could be in effect for up to eight years. (A lO-year maximum was possible but not pursued.) The School Board is not obligated to levy for the entire term if financial conditions were to change. . The levy seeks inflationary increases for four years (A lO-year maximum was possible but not pursued.) . On a per-pupil basis (not per-taxpayer), it would yield $900 in 2007 -08. Considering inflationary increases, this amount could increase to $990 per-pupil after four years. How win the levy affect RESIDENTS? The levy will cost property owners annually about $76 for every $100,000 of the taxable market value of a property starting in 2007-08. The cost will decline every year as enrollment declines. How much will it cost a home or business? Property Tax Impact 2006 Proposed Referendum Increase 2006 MEDIAN HOME VALUE' ESTIMATED TAX INCREASE WEEKLY MONTHLY YEARLY Arden Hills $274,200 $4 $17 $199 Mounds View $186,600 $3 $11 $135 New Brighton $224,400 $3 $14 $163 North Oaks $570,900 $8 $35 $414 Roseville $216,900 $3 $13 $157 Shoreview $244,800 $3 $15 $177 Vadnais Heights $222,500 $3 $13 $161 *" Source = Ramsey County Calculate it yourself Visit the levy information web page at: www.111oundsviewschooIs.org to calculate the projected tax impact of a successful school operating levy.