Minnetonka Schools seeks $85 million bond for building improvements
Minnetonka Public Schools is moving forward with an $85 million school improvement bond that will go to residents for a vote. The district says the investment won't raise property taxes, relying on a financial strategy where new bonds replace expiring ones.
The Minnetonka Public Schools District is preparing to ask voters to approve an $85 million building bond—the first major bond request in nearly 30 years. The proposal, recommended by a task force, aims to improve every school in the district with upgrades focused on safety, modernization, and student learning support.
District officials emphasized that despite the significant investment, residents' school tax rates will remain flat. They explained the financial mechanism using a straightforward analogy: "It's like paying off one car loan and starting another. Your payment won't go up. It will be extended. As old school bonds are paid off, new bonds would begin. This means the tax rate stays flat. No net increase."
However, officials acknowledged potential voter confusion stemming from state law. Minnesota requires ballot language stating that voting for the bond constitutes voting for a tax increase, even though the actual tax rate will not rise. "Even though the ballot must legally say, 'By voting for this, you are voting for a tax increase,' your school tax rate will stay the same," a district representative explained.
The district framed the bond as reflecting community values. "This plan reflects our community's values. Safe, modern schools, responsible financial planning, no tax rate increase," officials stated. The proposal will now move to a public vote, where Minnetonka residents will decide whether to approve the $85 million investment in their schools.
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Proposed $85 Million School Improvement Bond
The core of the discussion revolves around a carefully phased $85 million investment in school improvements for the Minnotonka Public School District, recommended by a task force. A key highlight is the assurance of no net increase in property taxes, explained by a financial model where new bonds replace expiring ones. The transcript also addresses the potential confusion caused by legally mandated ballot language implying a tax increase, clarifying that the school tax rate will remain flat.
Even though the ballot must legally say, "By voting for this, you are voting for a tax increase, your school tax rate will stay the same.
It's like paying off one car loan and starting another. Your payment won't go up. It will be extended. As old school bonds are paid off, new bonds would begin. This means the tax rate stays flat. No net increase.
This plan reflects our community's values. Safe, modern schools, responsible financial planning, no tax rate increase.
Source document
This November, Minnotonka Public School District residents will vote on a plan to improve every school in the district with no net increase to residents property taxes. The district has a history of being a good steward of taxpayer dollars. This is the first building bond request in nearly 30 years. During 2024, a task force of residents, parents, teachers, administrators, and local business leaders studied every school building in the district. The task force identified the highest priority needs, projects that would improve safety, support student learning, and provide better spaces for students and staff. Its recommendation, a carefully phased $85 million investment in school improvements. Now, here's the part that can be confusing. Even though the ballot must legally say, "By voting for this, you are voting for a tax increase, your school tax rate will stay the same." How does that work? It's like paying off one car loan and starting another. Your payment won't go up. It will be extended. As old school bonds are paid off, new bonds would begin. This means the tax rate stays flat. No net increase. This plan reflects our community's values. Safe, modern schools, responsible financial planning, no tax rate increase. Learn more at minnotonkaschools.org. And remember to vote on or before November 4th.
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