BOND FINANCIAL INFORMATION

Weeping Water Public Schools

THANK YOU, WEEPING WATER!
We are incredibly grateful to our community for your support in passing the HVAC bond initiative. Your vote is an investment in the future of our students, staff, and school. This project will ensure a safe, efficient, and comfortable learning environment for generations to come.

We appreciate your continued commitment to Weeping Water Public Schools. Together, we’re building a stronger future!

The Weeping Water Public Schools Board of Education approved a resolution calling for a patron vote on a bond issue not to exceed $5,875,000 to repair and replace the HVAC system.

FINANCIAL HISTORY

WEEPING WATER'S CURRENT LEVIES

Weeping Water's current taxable fund levies total $1.227. The state requires a limit of $1.05 on total levies, excluding bond funds, since those are voted on by district patrons.

Taxable Funds

2024-25 Levy

General Fund

$1.018

Building Fund

$0.018

Qualified Capital Fund

$0.014

Bond Fund

$0.177

TOTAL

$1.227

SINCE 2018

  • In the past 7 years, the total taxable fund levies have decreased by over 10 cents or 7.31%.

FINANCIAL IMPACT

Freeman logo

GENERAL OBLIGATION BOND

Bond Project Amount Not To Exceed
$5,875,000

Projected Interest Rate
4.00%

Bond Repayment Term
14 years

Estimated Bond Levy (Principal/Interest on CURRENT & NEW Bonds)
$0.259 per $100 of Valuation

IMPORTANT NOTES

  • The estimated debt service of the proposed bonds is approximately $14,952,360.

  • 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

LB 2 VALUATION

WHAT IS LB2?

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. If the bond passes, this new LB2 Adjusted Valuation will be used for the new bond.

ESTIMATED TAX IMPACT

Residential property

Assessed Value

Annual Cost

Monthly Cost

$100,000

$64.40

$5.37

$200,000

$128.80

$10.73

$500,000

$322.00

$26.83

Agricultural land

Assessed Value

Annual Cost

Monthly Cost

$500,000

$161.00

$13.41

$1,000,000

$322.00

$26.83

$2,000,000

$644.00

$53.67

Would you like to review your specific tax impact?
Reach out to Superintendent Reiman at 402-267-2445 to set up an appointment.

PROJECT DETAILS
FINANCIALS
BOND FAQ
BOND INFORMATION HOME