Property Taxes Explained: What the District Isn't Telling You
One of the things the district keeps highlighting about this referendum is that the increase to your taxes is small — nominal even.
And technically, that’s true.
But there’s more to the story when you dig a little bit deeper.
The "Wrap-Around" Trick
What they plan to do if this referendum passes is pay only a small amount on the new debt until the 2015 referendum (the old debt) is paid off.
They’re right — if you structure it this way, the increase in your taxes seems small.
They call it a “wrap-around” structure.
Kind of makes it sound like a nice, warm hug…
that keeps squeezing until there’s nothing left.
But I digress.
The image below (from the school’s own website) tells the story visually. The orange dashed line represents the tax rate if this referendum passes. The solid gray bars represent the existing debt.
Notice how, from 2027 to 2028, there’s a sharp drop-off — that’s when the 2015 referendum is finally paid off.
The shorter gray bars through 2034 are the tech levy passed just a couple of years ago.
Basically, what the school is doing here is keeping us in permanent payment mode, so they don’t have to “sell” the full cost of this referendum.
The Psychology of the Pitch
What do I mean by that?
By not letting us experience that natural drop in our taxes, the district only has to sell us on the difference — the small gap between the existing gray bar and the new orange line.
That’s a lot easier to swallow than selling the entire cost of a $25 million project from zero.
So when they say things like “we’re keeping taxes steady,” what they really mean is:
“We’re making sure you never see the decrease you were supposed to get.”
The Bond Timeline They Don’t Mention
The district’s current bond from 2015 is nearly paid off. Once it’s gone, every property owner in the district should see a significant tax drop.
But instead of letting that happen, this new 21-year bond would take its place — effectively keeping your tax rate high for another two decades.
So yes, the district can technically claim that your taxes “won’t go up much.”
But the only reason for that is because they’re replacing one payment with another.
It’s not a new low-tax reality — it’s a continuation of the same high-tax one.
The Real Cost Over Time
According to the district’s own presentations, the median home value in Pope County is $242,800, and the new bond would cost around $59 per year for that average property.
That sounds small — until you realize that’s just the difference between the old and new bond payment. (That’s the amount between the grey bar and the orange dashed line in the graph above.)
For lake homes, farms, and commercial properties, that number grows substantially higher.
The real cost is significantly higher than they’re projecting, and it’s on purpose. They don’t want to have to sell you the cost from zero, because that’s a much harder sell.
What About Upcoming Expenses?
When asked about how they plan to continue to fund repairs and maintenance for the next 21 years while this referendum is being paid off, Superintendent Chip Rankin danced around the subject.
Later, the district admitted that this will not be the last time they come and ask for more.
They’ll need additional money in just a few years to keep up with ongoing maintenance — meaning this “small” increase is really just a taste of what’s to come… if we let it.
So be sure to vote.
Early voting is open now at the school district office, Monday through Friday from 7:30 AM – 3:30 PM.
You can also vote on Election Day at the Pope County Courthouse from 7:00 AM – 8:00 PM.
Make sure your voice is heard.
Vote NO. Tell the board to come up with a better plan.
