Financial Details
PROJECT COST
The total estimated cost is $24,850,000. This amount includes the cost for design, construction, testing, and additional contingencies including inflation to ensure the project can be completed as presented.
16.2 CENT LEVY INCREASE
The bond levy is projected to be 16.2 cents per $100 of taxable valuation. This projected levy impact is based on current valuations. Increased valuations will result in a lower tax levy.
Bonds can be re-funded after five years if market conditions (rates) improve.
Nebraska property owners automatically receive a credit toward their school district property taxes. The credit, created by LB34 in 2024, is shown directly on each property-tax statement—there is no form to file or credit to claim on an income-tax return. It currently offsets about 30% of eligible school district taxes, although the amount may change each year. The credit does not apply to taxes used to repay voter-approved school bonds, so it will not reduce the estimated cost of this bond.
*Ag land is assessed at 50% of market value per LB2 state statute.
This chart uses average ag land valuations for Cherry and Sheridan counties. For more accurate estimates, use the interactive calculator below for your county and production land value using the current assessed value of your property.
Tax Calculators
To ensure accuracy, use your current assessed valuation* ('25-'26) when using the calculator.
*Your property’s assessed value for property tax purposes is listed on your 2025 tax statement. If you do not have your statement, click on the resources below to find your assessed value.
Estimated Monthly Tax Increase:
Estimated Yearly Tax Increase:
Monthly Tax Increase for Ag and Horticultural Land:
Yearly Tax Increase for Ag and Horticultural Land:
**How does LB2 affect Ag and Horticultural Land?
In 2021, the Nebraska Legislature passed LB2. For school bonds approved after January 1, 2022, the law values agricultural and horticultural land at 50% of market value. The calculator does this math for you, so just enter the assessed value from your tax statement. [Read LB2 (Nebraska Legislature)]
Read an article in the "Unicameral Update" regarding LB2
Read the full text of LB2 on the Nebraska Legislature website