How does this bond affect taxes?

The bond would add 18.75 mills to the school’s levy for property taxes. Here's how it affects homeowners:

• The median home in Decatur County is worth $78,500. That's the market value. Half of homes are worth less, half are worth more.

• But you don't pay taxes on the full value - only on 11.5% (0.115) of it. This is your assessed value.

• A mill is one thousandth of a dollar, or $0.001

• Here's how the calculation works on a home with a median market value:

 

$78,500 home value × 0.115 (to calculate 11.5%) = $9,028 assessed value

18.75 mills X $0.001 of a dollar = $169.27 total each year, or $14.11 per month.

 

The bottom line: If your family owns a home in the middle of our district’s price range, this school project would cost you about $14 more each month in property taxes, or $170 more per year.

 

You can use the tax calculators on this page to estimate how the bond levy will affect your property taxes. Click the "Tax Calculator" button or scroll down on the page.

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Comparing Mill Levies with Other Districts

If you are curious how Oberlin's mill levy compares to other districts in our region or with similar student enrollment numbers?  Click here.