Dawson County property taxes are increasing 20-35% this year. Home owners will be notified of this increase this coming June/July timeframe.
GUSD is proposing another bond for 8 million dollars for maintenance repairs, 2 million dollars for the Elementary School Reserve Levy and 2 million dollars for the High School Reserve Levy. They've provided a projected cost estimate per tax payer over the next 15 years. The interest rate used for this funding is 3.8 percent over the next 15 years. For anyone who has watch the news lately; interest rates for a 12-million-dollar bond are going to be much higher than their predicted 3.8 percent. The lowest interest rate I found using Google search is 6.89% with rates as high as 9.62%. If this bond is voted in and with the current state of our economy, this interest rate could be much higher than what I found.
Bonds have to be repaid by taxpayers with interest. The interest rate, and thus the total cost of the bond, varies according to how risky the investment is. It's no secret that the health of an economy affects interest rates. For example, a town on the verge of bankruptcy typically will have to pay vey high interest rates for bonds, while a wealthy city can qualify for lower rates.
I urge all readers to check out the interest rates and make your own conclusion to this proposal. Keep in mind, Dawson County tax rates are increasing between 20-35% this year also. For you nay sayers that don't believe this article, I urge you to go to the Montana Department of Revenue Assessor Office at 119 N Merrill Ave. to verify property tax increases yourself.
Our problem doesn't change with throwing good money at bad maintenance practices. Our problem is the spending practices of the GUSD administrators.
I would like to see an outside complete an audit of the GUSD funding to see if there has been any Fraud, Waste or Abuse of taxpayer dollars. I have no idea of how to make this happen. Is there public funding available? If there is any reader out there that feels the same as I do, please provide an insight as to how to get this started.
I recommend all voters vote"NO" to any School Bond submitted by the GUSD.