SSPPS Refinancing Bonds Saves Taxpayers $2.5 million over 10 years

Over the past year, South St. Paul Public Schools refinanced existing debt to reduce the amount of taxes paid by South St. Paul property owners. $2.5 million in savings is being passed onto our taxpayers. It is a culmination of the 2022A bonds that were approved for refinancing at the October 24, 2022, School Board meeting and the 2021A bonds that were refinanced in November of 2021. The district continually monitors financial markets to take advantage of lower interest rates, reducing the amount of interest paid on the district’s debt. These savings do not come back to the school district, but rather are a reduction in the annual taxes assessed to our taxpayers.