Byron property tax increase for new school to be lower than expe - KTTC Rochester, Austin, Mason City News, Weather and Sports

Byron property tax increase for new school to be lower than expected

BYRON, Minn. (KTTC) -- Those who pay property taxes in Byron will be getting a little bit of a break next year when it comes to paying for the new elementary school.

When the bonds for the new elementary school approved in last month's referendum were put up for bid, the interest rate from the lowest bidder was significantly below what the district had expected.

That means the district will pay about $3.7 million less in interest, and the property tax increase to pay for the building will be about 26 percent less than officials expected.

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