The Redwood Area School Board is meeting this evening (Monday, September 19th) at 7 PM to consider the adoption of a resolution to refinance the debt obligation on the Middle School/High School building. The action would mean a reduction in property taxes for some residents.

2011 Legislation that was passed in Minnesota made this possible for schools districts that have a “maximum effort levy” like in Redwood Falls.

Being sensitive to the level of property taxes residents of the community pay, superintendent Rick Ellingworth says it is a complicated process but would benefit residents of the old Redwood Falls School District #637 who are currently paying the debt on the building built in 1990.
 
It is a good deal for taxpayers but the school does not gain anything financially. It also puts an end to the one-day bond issue that the school has had for the last 15 years-the school would forfeit the one day revenue that has brought in.

The school board is considering action to reduce property tax levies from 2012 through 2021 by $6.36 million, ranging from $621,000 to $785,000 per year for the next 10 years.

Because of agreements made when the three districts consolidated residents of previous Belview and Morton school districts do not pay for debt on the middle school/high school building so, debt relief only impacts those who are paying the debt.

The public is encouraged to attend the meeting this evening at 7 PM in the school board room to learn more.