Dear Families,
I am writing to provide an update on our district’s financial partnership with the City of Independence and how we are planning for the future of our school facilities.
Strengthening Our Partnership: The "Keep Whole" Agreement
As the City of Independence continues to grow, we are pleased to share that the school district remains a priority in their development plans. Currently, the City has entered into a Tax Increment Financing (TIF) agreement regarding the Petro’s Builders Concordia development.
In many communities, TIF agreements can divert up to 75% of tax revenue away from schools. However, the City of Independence has a long-standing history of keeping the school district "whole." This means the City ensures we receive the same amount of property tax revenue we would have received even if the TIF were not in place.
While this is incredibly generous and ensures our current budget remains stable, it is important to note:
Timeline: While this development will eventually generate tax revenue, it will take a few years for these properties to appear on the tax duplicate as land is purchased and homes are built.
Budget Stability: Because the City has always kept us whole, this agreement maintains our current funding levels rather than providing "additional" or surplus money.
Planning for a New PreK-8 School
Because our current funding stays "whole" rather than increasing, we must still address our aging infrastructure. To fund the construction of a new PreK-8 school, the Board of Education has developed a mindful, balanced financing plan consisting of a 0.75-mill property tax and a 1% School District Income Tax (SDIT).
This strategy was chosen specifically to be sensitive to the diverse financial needs of our community:
Protecting Residents on Fixed and Non-Wage Incomes: The 1% SDIT applies only to earned wages. Retired community members and those not earning wages will not be impacted by this portion.
Minimizing Property Tax: By including the income tax component, we can keep the property tax increase at just 0.75 mills. Funding this project through property taxes alone would have required approximately 6.5 mills.
Join the Conversation: Upcoming Community Meetings
We invite you to join us to hear more about the building project and our funding mechanisms. Both meetings will include tours of our current facilities:
January 22 at 7 PM – Independence Middle School
February 24 at 7 PM – Independence Primary School
Online Resources & Personalized Tools
Our website now includes a dedicated landing page for factual information regarding the bond issue. You can also find a link there to submit questions directly to the district.
Coming Soon: Within the next week, we will add a tax calculator to this site. Because the impact of the bond issue is unique to each resident’s income and property value, this tool will allow you to calculate your specific estimated cost.
Please feel free to call or email the Treasurer or me with any questions or comments. We look forward to seeing you at our upcoming meetings.
Thank you,
Kelli Cogan
Superintendent