2026 Bond Information
Palmer Public Schools
Property Tax Impact for a $6,950,000 Bond
The bond levy for principal and interest payments is projected to be 15 cents per $100 of taxable valuation. This would equal $150 per $100,000 of valuation per year. This levy impact is based on current rates on a 25-year bond and the district’s current taxable valuation as determined by statute*.
*Ag land is assessed at 50% of market value for the purposes of the bond. It is currently assessed at about 72% of market value for tax purposes.
The necessary bond levy will be set each year by the board based on the year’s total assessed valuation. This is the combined taxable value of all property in the district, as determined each year by the county assessor. Bond payments (principal and interest) will be locked in so the tax dollars needed each year will be fixed. As valuations across the district increase, the bond levy can decrease to bring in the dollars needed for that year’s bond payment — because the same dollar amount is now spread across a larger tax base. The projected bond levy and interactive calculators provided are based on the 25-26 district valuation.
Tax Calculators
*To ensure accuracy, use your current assessed valuation ('25-'26) when using the calculator and not any notifications of future valuation increases.
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Yearly Tax Increase:
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Where Do I Find My Assessed Value?
Your property’s assessed value is listed on your 2025 tax statement. If you do not have your statement, click on the resources below to find your assessed value.
Financial Frequently Asked Questions
What is the bond amount?
The ballot asks voters to consider a bond not to exceed $6,950,000. If the bond is approved prior to August 1, 2026, the district will also receive a $5,000,000 grant from the Roy and Gloria Dinsdale Foundation to help fund the total project cost. This partnership between the community and the Foundation significantly reduces the amount that would need to be funded through the bond. In fact, the proposed bond amount is substantially lower than the $12.95 million bond proposal considered in November 2024. Since that time, the school board has reduced the overall scope and scope of the project, and the addition of the Dinsdale Foundation grant further lowers the local bond amount needed to complete the project.
Will we still get the $5,000,000 donation if the bond doesn't pass?
Unfortunately, no. This generous gift comes with one condition — the community must show its support by passing a bond prior to August 1. The donor wants to partner with our community, not fund the project alone. If the bond does not pass, the donation will not be given. That's why the gift has already been factored into the bond amount: together, your vote and this donation make the full project possible. The opportunity only exists if we support it.
Could I get a tax credit?
LB34, known as the School District Property Tax Relief Act, applies to the school district portion of your Nebraska property taxes. This credit reduces the amount you owe for taxes collected by your local public school district, and the savings appear directly on your property tax statement. Prior to 2024, property tax owners had to apply for the credit as an income tax refund, but the credit is now frontloaded on your property tax statement. In general, property owners receive about a 30% reduction on the qualifying school district taxes included in their bill. This credit does not apply to school bonds, but it does apply to a portion of the short-term financing options of this project.
What is short-term financing?
A portion of the facility project could be funded with shorter-term financing, such as a lease-purchase agreement or using the Qualified Capital Purpose Undertaking Fund. The Qualified Capital Purpose Undertaking Fund, sometimes called QCPUF, is a special fund schools can use for building and safety improvements. This approach: · Lowers the total bond amount · Reduces the total interest paid over time, and · Adds a new levy of about 3 to 6 cents for seven to ten years. This tax levy would be in addition to the levy for the overall bond. · A portion of the short-term financing (lease purchase) would also qualify for the LB34 School District Property Tax Relief Act, giving property owners a 30% automatic credit.
When would the bond affect my taxes?
If the bond passes in July the district by statute cannot approve the bond levy until fiscal year 27-28. This means that the tax impact of the bond would not occur until calendar year 2028.
How do increasing valuations impact the bond levy?
The necessary bond levy will be set each year by the board based on the year’s total assessed valuation. This is the combined taxable value of all property in the district, as determined each year by the county assessor. Bond payments (principal and interest) will be locked in so the tax dollars needed each year will be fixed. As valuations across the district increase, the bond levy can decrease to bring in the dollars needed for that year’s bond payment — because the same dollar amount is now spread across a larger tax base. The projected bond levy and interactive calculators provided are based on the 25-26 district valuation.
Does this affect my status with the Homestead Tax Exemption Act?
If you currently qualify for the Nebraska Homestead Tax Exemption and are exempt or partially exempt from other taxes, then those same exemptions will apply to the school bond. Homestead exemptions are available to qualified individuals who are 65 years of age or older, veterans, individuals with disabilities and others. For more information, please refer to the Nebraska Homestead Exemption Information Guide.
Are we still paying off the 1995 bond?
No, that bond was paid off in 2014. The district currently has no bonded debt.
Need help figuring out how the bond will impact you?
If you want help figuring out how the bond will impact your taxes please attend the Town Hall Open House on June 23, 2026 at the Palmer American Legion from 6 to 8 p.m. to meet and visit with the financial specialists.