One of three important measures on the Feb. 14, 2012 ballot
What it pays for, why it matters:
New Middle School (at site of the old Hazelwood Elementary School, currently Renton Academy)
IMPROVEMENTS TO EXISTING SCHOOLS INCLUDE:
Renovate pool at Lindbergh High School
School Building Improvements
Safety & Security
How is it paid for?
Collection of funding from the approved measure would begin in 2013. The most reliable financial forecasts available estimate that these measures will drive an additional 69 cents per $1000 of assessed valuation: for the average home valued at $252,000 that will be about $174 per year. This will place the district’s total rate at $5.40/$1000. The total annual tax payments for district residents are expected to remain constant in 2014 since home values in the county are expected to decrease in the short run. School District tax rates are expected to then decrease over time as old debt is retired and assessed value in the area begins to increase once again.
What is a School Building Improvement Bond?
School Districts throughout the U.S. place school construction bond measures before voters to ask for approval to build new schools or upgrade and renovate existing schools, add classrooms, replace outdated heating and ventilation systems, make health and safety upgrades, replace fire-alarm systems, construct new classrooms to reduce student overcrowding, and more.
The improvements are paid for like a mortgage, over a period of about 20 years, which keeps the cost to individual taxpayers to a minimum.