Taxpayer Impact per year - (BOND)

State Aid on Agricultural land

The state of Minnesota has an Ag to School tax credit which positively assists those with agricultural land fund bonded projects. In the past agricultural land was taxed at 100%. With this credit, the state of Mn. pays 70% of the cost of the bond per acre. The agricultural land is taxed at the remainder 30%. The updated tax impact statements now that the project has been formally approved will be located on the school website under Truman Public School IAQ project.  The Department of Revenue pays the tax to the district yearly.