Mansfield residents have been asked to vote on five bond propositions: a veterans memorial; a joint recreation center and library; a new community park in southwest Mansfield paired with renovations to Skinner Sports Complex; an expansion of Mansfield's trail network; and a Miracle League field. These projects, if approved, would cost a total of $155.5 million.
If voters approve all five bond propositions, we estimate that a maximum property tax rate increase of approximately $0.1284 would be needed to fund the bond package. This estimated maximum increase assumes the City of Mansfield would immediately issue all necessary debt to finance the proposed projects and experience zero growth in its tax base over at least the next 20 years.
Our estimated maximum property tax rate increase would equate to $10.72 per $100,000 of assessed value per month in additional property taxes. That means, if all five propositions were approved, the owner of a home assessed at $300,000 would pay an estimated maximum of $32.16 more per month in property taxes.
The City of Mansfield estimates that the city’s tax base will grow by an average of 3.2% per fiscal year for the next five years. The city’s tax base increased by an average of 6.8% per year from fiscal years 2012 to 2022. The City of Mansfield would also plan to issue the necessary debt for the projects in phases that correspond with the projects’ completion timelines. Tax base growth and longer project timelines could reduce the tax rate impact.
Visit mansfield2022.com for more information about the individual bond propositions.