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Tax Impact

Property Tax Myths

Property Tax Myths

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​​An approved bond issue on Tuesday, November 5, 2024 would allow WCSD to address its facility needs by maintaining the authority to collect a debt levy of  $2.70 per $1,000 of taxable property. This would generate the $22.3 million that is needed.​

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​Because the district is utilizing SAVE revenue that is provided to all districts for the purpose of improving and maintaining facilities, Phase I will have no impact on property tax rates. Phase II, which would be funded with general obligation bonds secured through a district election on Tuesday, November 5, builds on the progress of Phase I.

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The two phases are closely connected, but funded in different ways.

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MORE: See the Tax Impact Summary​

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MORE: The property tax impact of the referendum​

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MORE: Calculating Ag Value and Property Tax Impact​

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Williamsburg CSD's overall tax levy rate ($14.33 per $1,000 of taxable property value) has declined by 8.1% since 2011. Meanwhile, the district's general fund expenditures have grown from $10.6 million to $16 million in that same period.

A comparison of overall tax levy rates based upon enrollment shows that Williamsburg CSD is in line with many of its peers:

  • Mount Vernon: $17.54

  • Center Point-Urbana: $17.91

  • Estherville-Lincoln Central: $15.80

  • Anamosa: $14.87

  • Hampton-Dumont: $14.75

  • Williamsburg: $14.33

  • Greene County: $14.31

  • Davis County: $13.69

  • Mid-Prairie: $13.21

  • Saydel: $12.99

  • Maquoketa: $12.99

  • West Liberty: $12.95

  • Albia: $12.55

  • Humboldt: $12.31

  • Howard-Winneshiek: $12.20

  • North Fayetteville Valley: $12.04

  • Sheldon: $12.00​

​Comparison of school districts in the Grant Wood AEA Region:

  • Marion: $18.00

  • Center Point-Urbana: $17.91

  • Mount Vernon: $17.54

  • Lisbon: $17.17

  • Clear Creek-Amana: $17.04

  • College Community: $16.61

  • Solon: $16.28

  • Washington: $16.01

  • Vinton-Shellsburg: $15.50

  • West Brand: $15.00

  • Alburnett: $14.98

  • Anamosa: $14.87

  • Cedar Rapids: $14.66

  • Monticello: $14.66

  • Williamsburg: $14.33

  • Midland: $13.93

  • North Cedar: $13.49

  • Mid-Prairie: $13.21

  • Highland: $13.00

  • Tipton: $12.70

  • Benton: $9.70​

​Comparison of neighboring school districts:

  • Clear Creek-Amana: $17.04

  • HLV: $14.94

  • Iowa Valley: $14.78 

  • Williamsburg: $14.33

  • Mid-Prairie: $13.21

  • English Valleys: $11.33

Over the past 20 years, the WCSD Board of Education has taken proactive steps to reduce bond interest costs that property owners of the district would otherwise have had to pay if the original repayment schedules had been left untouched. These actions saved $961,570 in interest cost that would otherwise have been levied as property taxes to repay general obligation bonds, and saved $563,581 in sales tax dollars that would have been used to fund higher interest costs.

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  • In 2003 the board refinanced general obligation bonds originally issued in 1997 at rates between 4.85%-5%. The new rates of  1.25%-2.20% saved taxpayers $61,793.  

  • In 2015 the board refinanced PPEL notes originally issued in 2010 at rates of 1.85%-2.3% to 0.50%-1.35%. This action saved $55,021.

  • In 2021 the board refinanced general obligation bonds originally issued in 2015 at rates of 2%-3% down to 0.45%-1%, saving $455,596. At the same time the board also refinanced sales tax revenue bonds issued in 2011, replacing rates of 3.8%-4.35% with new rates of 0.55%-1.50%. This produced $563,581 in savings for our SAVE fund.

  • In FY 2020 and 2021 the board utilized surplus levies within the general obligation bond debt service fund to pre-levy additional funds, which resulted in an additional $368,550 in savings.

  • In FY 2023 an additional surplus levy was put in place that captured another $20,610 in savings.

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