Bond passage could affect tax dollars
November 2, 2017
Get out and vote! Only one item is on the November 7 ballot this year. Although it does not directly effect the town of Pine Bluffs, it does effect the tax dollars.
The item on the ballot is for Laramie County Community College District to renovate and expand in several different areas of the curriculum.
The District is requesting authorities to issue a general obligation bonds in an aggregate principal amount not to exceed $29,496,000 bearing a maximum rate or rates of interest not to exceed 4.0% per annum and to mature within 15.5 years of their respective dates. The bond would be payable from ad valorem property taxes.
The bond would be sufficient to pay the principal of and interest on the bonds in each year , and the bonds would be sold on such terms and conditions as the District may determine. The Tax will expire when the bonds have been paid in full.
Ad valorem property taxes are levied on real or personal property by local government units including counties, municipalities, school districts, and special taxing districts.
Ad valorem means a tax on goods or property expressed as a percentage of the sales price or assessed value.