PEQUOT LAKES -- Taxpayers in the Pequot Lakes School District will see changes to their tax statements after passing a $19.9 million building referendum.
Karla Nesheim, the district's business manager, said taxes for 2002 incorporate the property tax change made by the 2001 Legislature. Property taxes will vary depending on the classifications and the market value. Nesheim said owners of the higher market value properties will see a bigger decrease in taxes than the lower ones.
However, Nesheim said the lower market value -- $100,000 or less -- may pay more in taxes, but new homestead credits for 2002 should help absorb some of the tax dollars.
The following estimates of the tax impact for property owners are preliminary. Crow Wing County will finalize the tax statements in February or March. The preliminary taxes are based on a $20.4 million building referendum, a 2 percent increase from what residents approved. Nesheim said the state allows districts this increase to help cover the cost of the bonds.
A $100,000 residential homestead property owner will see a $59 increase in their actual school property taxes in 2002. This owner paid $116 this year in taxes and will pay $175 in 2002.
A $150,000 residential homestead property owner paid $389 this year in taxes and will pay $262 next year or $127 less. A $200,000 residential homestead property owner paid $713 this year in taxes and will pay $349 next year or $364 less.
A $100,000 commercial owner paid $943 in taxes this year and will pay $262 in 2002 or $681 less. A $500,000 commercial owner paid $6,092 in taxes this year and will pay $1,616 in 2002 or $4,476 less.
An agricultural homestead owner with a market value of $200,000 paid $147 this year and will pay $255 next year or $108 more.
Seasonal property owners also will see a decrease in their school property taxes. An owner with a market value home of $100,000 will see a $339 decrease in taxes -- from $514 to $175. A $200,000 seasonal property owner paid $1,162 and will pay $349 in 2002.
The referendum will fund construction of a new elementary school in Breezy Point that will serve 750 students. Renovations to the existing elementary and high school buildings will include adding a music room addition, a science area and computer labs.
The school district has an estimated $1.2 billion in taxable market value for 2002, a 13 percent increase from this year.
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