TAX IMPACT
An approved bond referendum on November 5, 2024, would have a tax impact of $2.70 per year on $1,000 worth of taxable property value. On a home with an assessed value of $150,000, this would amount to an estimated increase of $14.55 per month.
For a commercial property with an assessed value of $250,000, the estimated monthly impact would be $35.89.
Based on the average assessed value of agricultural land per county, the monthly tax impact for one acre would be $0.35 in Marshall County, $0.32 in Jasper County, $0.30 in Tama County, and $0.28 in Poweshiek County.
In a comparison to other school districts within the North Iowa Cedar League, East Marshall CSD currently has the second-lowest tax rate, at $10.88 per year on $1,000 of taxable property value.
Should the bond referendum be approved in November, six NICL school districts would still have a higher tax levy rate than East Marshall CSD — five of which saw voters approve referendums in the past five years. Aplington-Parkersburg, Gladbrook-Reinbeck, and Union all have bond referendums on the ballot in November.
The School Board and administration at East Marshall CSD have a long history of respecting the needs of our property taxpayers. The school district's overall tax levy rate has declined by more than 23% since 2017.
An example of the district’s fiscal responsibility was its handling of $5.38 million of voter-approved general obligation bonds used to finance renovations at the high school in 2005. In subsequent years, the board reduced the property taxes needed to repay that debt by leveraging sales tax revenue to abate the levy. The bonds were refinanced to reduce the property taxes necessary for repayment, and the district prepaid principal on the bonds to reduce the property tax burden.