Will the Randhurst reconstruction with Costco and the new mall eliminate the budget deficit?
No. District 26 does not receive any portion of sales tax. District 26 receives a one time increase in the tax levy based on the equalized value of new property. However, it is not known whether Costco will be considered new property since it was built using existing walls. In 2003, District 26 had $1,866,852 in new property equalized value. The one time tax increase to District 26 from the 2003 new property was: $58,092. After the first year, the new property becomes part of the tax base and is subject to tax cap restrictions.
