Come September, homeowners may notice a slight increase in their property taxes, thanks to Casper College's $35 million general obligation bond issue.
Voters approved the bond issue back in November. The funds will pay for major construction projects on the college's campus.
Lynnde Colling, vice-president of administrative services, said the college's 2010 budget will include a mill levy assessment, which would increase Natrona County's mills to fund the bonds. The college's board of trustees plans to adopt that budget in July.
After the budget is adopted, the county assessor, treasurer and commissioners will be notified of the required changes to the mill levies. Commissioners will set all mill levies in August.
Tom Doyle, the county treasurer, said he will send out tax bills in September, which is when homeowners may see a difference in what they're paying.
"Some people will have gone up [in taxes]," Doyle said.
First on the college's list of construction projects is the Gateway Building. Colling said the college still expects to receive a $10 million appropriation from the state to help fund construction of the building.
Colling also said the college has received $11,029,100 of the bond proceeds, of which $10,250,000 is for construction of the Gateway Building. The remainder is held in accordance with Wyoming statutes.
The bonds will pay for the Gateway Building, a new music building and a new student union that will house a University of Wyoming/Casper College Center. New residence halls are not being funded through this bond.
Total project costs, including new residence halls, total roughly $105 million. The proposed buildings would add more than 100,000 square feet of new space for classes.
Homeowners will pay roughly $18 a year in property taxes per $100,000 of assessed valuation, or $1.50 a month.
Reach education reporter Jasa Santos at (307) 266-0593 or at jasa.santos@trib.com. Read her education blog at tribtown.trib.com/JasaSantos/blog.
Posted in Local on Saturday, July 4, 2009 12:00 am
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