Coloma Community Schools saves $2.25 million in interest expenses by refinancing 2012 Bond

Coloma Community Schools announced on July 6, 2023 that by refinancing its 2012 bond, and thus lowering the interest rate from 3.56% to 3.00%, the district will save $2.25 million for the community’s taxpayers over the course of the bond. Additionally, the debt levy, or taxes issued to homeowners, has been reduced to 2.7 mills from 3.7 mills through the refinancing. For a homeowner with a $100,000 property, this is an annual savings of $100.

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