The School Bond
$224 million,
paid by the $100,000.
Voters approved 2 new Region 15 schools on May 6, 2026. The cost reaches Middlebury tax bills starting FY 2027–28 and is charged in proportion to your assessment. This page shows the mechanics, the published figures, and what they mean for a real bill.
Middlebury voted no, 539 to 648. Southbury’s yes carried the result — but Middlebury is on the hook for its 33.13% share.
Combined town vote: 2,474 Yes – 1,820 No.
How the charge works
One number drives it: your assessment.
The bond charge is levied per $100,000 of assessed value, on top of the regular mill rate. In Year 1 that is $240 per $100,000; as principal repayment ramps up, it peaks near $321 around FY 2032–33, then falls back over the remaining life of the bond.
Your formula
(your assessment ÷ $100,000) × $240 = your Year-1 charge
The schedule
From $240 to a $321 peak.
Charge per $100,000 of assessment, by fiscal year. Two figures are published; the years between them are in the Phoenix Advisors amortization schedule and will be added here when the per-year breakdown is available.
After the peak, the per-year charge declines over the remaining term of the bond. Exact post-peak years also pend the published schedule.
On a real bill
Three Middlebury homes.
The published rates applied to three assessment levels. The town-average row matches the figures in our May 2026 ads.
| Home | Assessment | Year 1 · FY 2027–28 | Peak · ca. FY 2032–33 |
|---|---|---|---|
| $200,000 assessment | $200,000 | $480/yr | $642/yr |
| Town-average home | $394,296 | $946/yr | $1,266/yr |
| $500,000 assessment | $500,000 | $1,200/yr | $1,605/yr |
Authorized
$224 million
Region 15 — 2 new schools
Middlebury's share
33.13%
of Region 15 obligations
First tax-bill impact
FY 2027–28
July 2027 bills
The bond charge lands on top of your post-revaluation bill. See both together for your home.
Run your numbers →