The Bloomington School Board will place an operating referendum question on the Tuesday, November 7 ballot. The current operating referendum provides $17.1 million annually. It was passed in 2007 and is good for 10 years.If approved, the operating referendum will increase by $5.3 million, to $22.4 million annually beginning in 2018. This will result in $465 more per student, to $1,967 per student. If approved, the operating referendum authority would extend for 10 years and include an inflationary factor. Without the inflationary factor, the purchasing power of the referendum revenue would decline as inflation rises each year.School taxes are the smallest of the three major portions of a Bloomington homeowner’s property tax bill. Less than 30 cents of every tax dollar goes to the school district, while nearly 62 cents pays for City of Bloomington and Hennepin County services. The remaining nine cents goes to other agencies.
If approved, how will the operating referendum impact property taxes?
|Home Value||Monthly Impact*||Annual Impact*|
*Impact is the additional expense on current taxes and may fluctuate with changes of inflation and property values. Preliminary estimates provided by Ehlers, an independent municipal financial advisory company.
Bloomington’s current operating referendum compared to neighboring school systems: At $1,472 per student, we are behind Wayzata, Minnetonka, Eden Prairie, Hopkins and St. Louis Park as indicated below.