7-7-111. Bond election -- impact on value. (1) Except as provided in subsection (2), the form of the ballot for a bond election must include:

(a) the statement that "an increase in property taxes may lead to an increase in rental costs"; and

(b) an estimate of the impact of the election on homes valued at $100,000, $300,000, and $600,000 in terms of actual dollars in additional property taxes that would be imposed in the first year on residences with those values if the bond were to pass. The ballot may also include an estimate of the impact of the election on homes of any other value in the district, if appropriate.

(2) The taxing jurisdiction conducting the bond election may replace the estimate of the impact of the election on a home valued at $600,000 with an estimate of the impact of the election on a home of a different value.