Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1921-06-22
The Proposition For A New
High School Building
WHAT WILL 1T COST AND HOW SHALL WE
PAY FOR 1T?

PAY FOR IT?
In our former articles we have endeavored to show
the faults of present building and the urgent need of
more commodious quarters and more complete equip
ment. We need these right for children.
We need them for those who want to to DEBORAH and
pay their way for high school education We will need
them every year We need them for the addition of
new departments essential to the modern high school
There may be difference OF opinion as to where
the building should be located but familiar with
the conditions will deny the need
The only serious objection to the proposition that
it will cost moneya lot of money and will add to the
burden of the tax payer We will make attempt TO
minimize this fact but will endeavor to show briefly who
will have to pay the BILL how much he will have to pay
and how long it will take Our taxes high already but
not in comparison We have city In our county where
the tax levy has been higher than that of DEBORAH for
several years.
Our levy for school purposes below the average Of
Iowa cities and several than twice as much.
The Board of Education have asked the people to
vote bond issue of S175000 judgment and the
opinion of those have consulted that this will be
than ample to purchase ground, erect and equip build
ing. Of course we will issue bonds than are
necessary.
Owing to the present situation of the money market
the legislature recently passed law permitting school
corporations bonds the of six percent
for twenty years with option payment after five
years Thus after five years if the financial situation be-
normal the entire issue remaining unpaid could be
retired and bonds issued at lower rate of interest
Suppose a levy be made of 20 mills on the taxable
valuation. (The law permits tax to be levied not 60
exceed five mills the actual value of property The
assessed value is four times the taxable value and the
actual value generally much in of the latter) It
would probably be lower than this One mill will produce
revenue of approximately $500. Twenty mills will yield
$4,000 per During the first five six years
this amount will pay the interest and apply the
principal Grant that we have to pay six percent TO
maturity which is entirely improbable levy of 20 mills
will pay the entire amount of bonds and interest in less
than nineteen years
This does not take in to account the fact that more
favorable rates will be obtained long before that time
1t does not take into the increased that
Will certainly come from large number of outside
students 1t does not take into the fact that
most OF the bonds outstanding obligations of the
City and County will be paid before that time and re-
duce the amount of taxes levied for other purposes It
does not take into account the fact that the total assessed
valuation OF property is continually increasing and the
same levy will produce greater amount of revenue.
We have based our estimate on the maximum in each
case 20 mill levey will require each payer to pay
on real estate and other property except moneys and
credits the amount of S. per each $1,000 of
assessed valuation The taxes moneys and credits is
flat tax and is not affected in any way whatsoever IL
1t deemed desirable the of the levey may be re-
dutcd and the payment extended over longer period
Furthermore it practically certain that the above facts
will unite to produce so that Is mills will redeem
the entire issue in twenty years. This would be tax of
1915 per $1,000 each year.
To illustrate further Suppose your home is assessed
al Vauation OF $1,000 You pay taxes quarter of
that $685. Your school tax on the % mill ba sis
would be $3.50 per annum. On the Is mill basis it
would be $685.
The data in the foregoing articles have induced the
Board to again ask the electors of this district for the
bond issue at special election the Both of June These
facts are stated fully and frankly that each voter NAV
weigh them for himself and herself the members of the
ooard nave weighed them and then determine what the
answer will be at the polls
w I. BAKER, President of the Board
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