Zero-Mill Bond Information

KND Schools

Zero-Mill Information

What is a “zero mill increase” bond proposal?

The Board recently voted to refund our current bonds at a lower rate. As a result, taxes will be reduced by approximately .8 mills starting with the 2020 levy. However, if the bond is passed, the .8 mills are expected to be added back on and extended for 2 years. Therefore, even though we would be adding those .8 mills back on, neither tax amounts nor mills, are expected to increase. They are expected to remain the same. Thus, it is called a “zero mill increase.” However, the taxes generated by the .8 mills would be paid over 2 additional years. Continue reading