Monitor Editor
MELROSE— The Putnam County School District will ask voters to approve a $300 million bond issue in November.
The debt is part of the district’s school revitalization plan which last year included closing Melrose Elementary School.
However, after Melrose community members objected to the plan, the district instead opted to close Jenkins Middle School, Mellon Elementary School and Miller Middle School at the end of the 2020-2021 school year.
The district said it plans to use special facilities funding from the state to rebuild its high schools while using the bond proceeds to construct new elementary campuses.
If voters approve the entire $300 million bond issue in November, the district plans on issuing $50 million in bonds during the 2023-2024 fiscal year, another $50 million in 2024-2025, and then $100 million each in the following two fiscal years.
The district said that if it issues the bonds as planned, it estimates a taxpayer with a home valued at $225,000 would pay an additional $110.50 in property taxes in 2023-2024. The additional tax increases each year, peaking at $532.96 in 2028-2029, then decreasing every year thereafter to $160.00 in 2058-2059.
