HomeMy WebLinkAboutTax Impact for City of Rexburg 16.75M GO BondCity of Rexburg
Tax Impact of Proposed Bonds
7/8/2025
Summary of Proposed Bonds Option 1 Option 2 Option 3
Proposed Bond Amount $16,750,000 $16,750,000 $16,750,000
Indicative Rating Aa3 Aa3 Aa3
Term (Years)15 20 25
Call Date 8/1/2035 8/1/2035 8/1/2035
Interest Rates (as of 07/07/2025)3.92%4.35%4.61%
Bond Proposed Amount $16,750,000 $16,750,000 $16,750,000
Estimated Interest Cost $5,839,638 $8,818,854 $12,001,342
Total $22,589,638 $25,568,854 $28,751,342
Average Annual Payment $1,505,976 $1,278,443 $1,150,054
Tax Impact of the Proposed Bonds
Taxable Market Value (includes URA)
Proposed Annual Bond Levy $1,505,976 $1,278,443 $1,150,054
Tax Impact (Per $100,000 of Taxable Value)61.51 52.22 46.98
Tax Impact of Increase on Average Home
Zillow Home Value Index for City of Rexburg(1) 414,788$ 414,788$ 414,788$
Less Homeowner's Exemption (2)125,000$ 125,000$ 125,000$
Net Taxable Home Value 289,788$ 289,788$ 289,788$
Net Bond Tax 61.51$ 52.22$ 46.98$
Annual Tax Impact on Average Home 178.26$ 151.33$ 136.13$
Monthly Cost 14.85$ 12.61$ 11.34$
Notes:
(2) Homeowner's exemption is 50% of the value including one acre of land up to a maximum of $125,000.
$2,448,201,584
(1) Zillow Home Value Index (ZHVI) as of May 2025. The ZHIV is a smoothed, seasonally adjusted measure of the typical home value and market changes
across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range or middle price tier of homes.