The Board approved placing a bond levy on the November 4, 2014 ballot in the amount of $4,500,000 for the purpose of constructing, furnishing and equipping a new auditorium at Woodmore High School. The average annual property tax levy required throughout the stated maturity of the bonds (25 years) to pay the debt charges on the bonds has been estimated by the Sandusky County Auditor to be 1.98 mills for each one dollar of tax valuation, which amounts to 19.8 cents for each one hundred dollars of tax valuation. This Board estimates that the tax for debt charges will first be levied in 2014 and first be collected in calendar year 2015. Renderings of the proposed auditorium can be seen by clicking below.
25 years @ $4.5 million = $6,918,246
37 years @ $4.5 million = $8,604,428
Difference = $1,686,182