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By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism. Banta reduces tax bills for River Islands homeowners
Banta Elementary successfully refinanced $4.733 million of outstanding Community Facilities District No. 2011-1 Special Tax Bonds.
The 2011 Bonds were issued to provide funding for school facilities in the River Islands development via a special tax on property within the development. Similar to refinancing a home mortgage after a number of years with shorter duration mortgage at lower interest rates, refunding of the 2011 Bonds will save taxpayers within the CFD interest expense through the final maturity of the original 2011 Bonds. Additionally, through the application of funds on hand and the restructuring of the repayment requirements, total tax payments required in the future were reduced by over $800,000 in total through 2027.