Fiscally Responsible
The district will finance the $71.5 million worth of facility improvements through a three-phase bond issuance plan. The bonds will be drawn in December 2024, April 2025, and April 2026. This phased approach not only allows the district to secure funding as needed but also helps reduce interest costs and help ensure that the district can stay within budget while delivering these much-needed improvements to our schools. The first bond issuance, which took place in December 2024, totaled $14 million at a favorable 3.81% interest rate. The final two bond issuances will not cause significant spikes in the bond levy, as all three phases have been carefully integrated into the district’s long-term finance plan. This strategy is designed to maintain consistent tax rates year over year, while ensuring financial stability with the funding of the necessary improvements.
HISTORICAL
TAX LEVY
history in the making
Marshfield school district property tax rate hits historic low in 2023
The property tax rate for the Marshfield School District hit a historic low in 2023. This tax rate, or “mill rate,” is the amount a public school district can levy for every $1,000 of property value on properties located within a school district’s geographical boundaries.
With the current tax rate of $5.11 in Marshfield, for example, a property valued at $200,000 would pay $1,022 for the school district portion of its 2023 property tax bill. As depicted in the tax rate comparison chart, the Marshfield School District’s tax rate of $5.11 is the lowest in the area and continues to be historically low when compared to the average mill rate statewide.