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funded each year by the county, almost entirely from real estate taxes. He said this has been fairly constant for a while and land values have not significantly changed.
He said the county would have a debt service of about $305,000 in the first year should the board approve the bond sale. They expect to get about a 4.5 percent average interest rate over 20 years. The interest at the start will be much greater, he said and so the debt service will be greater. Looking down the road at the average cost of the debt yearly doesn’t help, even though it will be less later on. The county has to deal with next year for now, he said, and how to fund the debt service next year. What that means as far as the real estate tax rate equates to 5.3
98.5%