Freeman's current taxable fund levies total $0.775. The state requires a limit of $1.05 on total levies excluding bond funds, since those are voted on by district patrons.

• In the 13 years since the previous Freeman bond issue was passed, the total taxable fund levies have decreased by over 43 cents or 56%.

• In that same 13-year span, Freeman's K-12 enrollment increased by 101 students or 27%.

The most recent construction cost estimates equate to approximately $480 per square foot. Due to the ever-changing costs of materials and labor, it is difficult to determine an exact price tag for the proposed project. If the bond is passed, a formal bid process for the project will take place.

Bond Amount Not To Exceed
$26,910,000

Projected Interest Rate
4.30%

Bond Repayment Term
20 years

Estimated Bond Levy (Current & NEW Bonds)
$0.30-$0.31 per $100 of Valuation

• The levy or repayment term may be reduced by valuation growth in the community or bond refinancing to obtain a more favorable rate.

• Due to changes in recent state law, agricultural land in NEW bond issues is valued at a lower rate than in past bonds. See below

The Nebraska State Legislature passed LB2 in 2021. Currently, agricultural land is assessed between 69-75% of market value for property taxation. LB2 reduces the value of agricultural land to 50% of market value for school bonding. Bonds approved after January 1, 2022, are calculated using the new LB2 Adjusted Valuation. A link to LB2 is included below.

If the bond passes, this new LB2 Adjusted Valuation will be used for the new bond. Please see the "Estimated Tax Impact" information below for further details.

Click the "ESTIMATED TAX IMPACT" button below for estimated tax impact figures for home and landowners.

Would you like to review your specific tax impact?
Reach out to Dr. Havelka at 402-988-2525 x103 to set up an appointment.