Northern Infrastructure district proposes $5.94 million budget and 8-mill levy

The Northern Infrastructure General Improvement District has proposed a balanced 2027 budget of $5,940,824 and an 8-mill property-tax levy projected to raise $5,185,824. The district’s budget materials schedule a public hearing beginning Oct. 19 and continuing Nov. 2, with adoption planned afterward.

For property owners in the district, 8 mills equals $8 in district property tax for every $1,000 of assessed value. The levy is based on assessed value, not sale price, and is only one part of a property’s total tax bill. The projected yield uses an assessed valuation of $648,228,010.

The largest planned allocation, $4,586,100, would go to the debt-service fund for the district’s 2024 refunding bonds. It includes $2,815,000 for principal, $1,770,750 for interest and $350 in unclassified expenses. The bonds refinanced outstanding 2013-series bonds, with principal payments scheduled through 2036. Debt service accounts for about 77% of the proposed budget.

The budget also proposes a $1,232,508 transfer to fund balance, about 21% of the total. That is a transfer into fund balance, not a direct program expenditure. The remaining $122,216 is budgeted for administration.

The district’s budget narrative describes the valuation used for the projected yield as the assessor’s Aug. 20 estimate; final valuation is due Dec. 1, so the projected revenue is not a figure for final collections.