2011 Stillwater School Levy and Your Home Value

As a Realtor in the Twin Cities I usually stay out of talking politics with all but my closest friends. However, in the case of the 2011 Stillwater School Levy questions, I felt called to write about the connection between Schools and home values.

For those who don’t know me I’m a local business owner, homeowner, and most importantly parent of two great school age kids. I volunteer as a coach in the Stillwater Mites hockey program and I’m also on the Vestry (Board of Directors) of Ascension Episcopal Church. I moved here and became involved in the community because I love the history, culture, and identity of this town! I see Stillwater as a great place to raise a family because so many of the kids I meet (of all ages) give me faith in our future. I love living here so much I convinced my parents to move here too when my father retired from his calling as an Episcopal Priest.

As I’ve investigated what’s happening with the Stillwater Schools budget situation and the information surrounding the 2011 Stillwater School Levy ballot questions of course I thought about the kids and their future. I decided I would vote to pay the $10 to $30 per month (depending on my home’s assessed value) to fund the initiatives Superintendent Lunn outlined in Vision 2014.

Dr Lunn does a great job at stating the situation and Stillwater School District’s needs at their website http://www.stillwater.k12.mn.us/Levy_2011.html plus there’s a video at that site and also directly on YouTube at: http://www.youtube.com/stillwaterschools834#p/u/0/Jq-FQ1eB3-g .

I’m writing today to remind all of us (those with kids in school, out of school, and even no kids at all) that if you own a home or wish to in the future, your home value is tied to the outcome of the 2011 Stillwater School Levy questions.

The quality of the schools matter to buyers and the total education experience contributes to the type of community we have moving forward. What might happen to your home’s value if none of the three 2011 Stillwater School Levy questions are successful?

One answer is that we might enjoy less of an advantage in home values. For example, since the high year of 2006, the median sales price for the entire Metro Area has dropped 26.5% while the median sales price for Stillwater has only dropped 17.3% for the same period*. That indicates we should recover faster as well if all factors remain constant.

All of you reading this who are homeowners will eventually need to sell. Schools are a large part of the value equation for any community. Where I grew up, schools dealt with financial problems by eliminating extracurricular activities, increasing class sizes, and freezing teacher salaries. The result was an increase in disengaged students, an increase in crime, and a decrease in home values.

Of course, any time you have to consider paying more is a difficult choice. Personally, I look at it as an investment in the future of my community both directly in the lives of our kids, and indirectly in our quality of life and home values. It is my sincere hope that you will too!

*Source: Minneapolis Area Association of Realtors Annual Report