Eastmont SD
The district’s property tax cost impact analysis (from the district’s website) is shown in the next image with the red border
Comments on the district’s cost analysis
School districts do not set any future tax rates. Voters are voting on amounts in dollars. The county assessor, and only the county assessor, calculates tax rates for the year each January of each year.
Example:
[Tax rate for bond payments for 2025] = [Bond payment to cover principal and interest for 2025] divided by [Total Assessed Values (AVs) of all properties in the district’s tax area for 2025]
The Total AV of all properties for 2025 will not be known until late summer 2024.
And stating that the fictitious future tax rate will be the same as the rate in 2023 fails to inform voters that the district’s Total AV increased by 8.5% from 2023 to 2024. And the district is assuming another 3% jump in Total AV from 2024 to 2025. So having the same rate in 2025 as 2023 would be an 11.8% increase in actual dollars in taxes to collect.
The total bond amount is NOT $117M. That is just the bond principal. Bond interest and fees are estimated to be an additional $90M for a true total amount to local property taxpayers of $207M. And the annual bond payment schedule to cover principal and interest has been designed to be increasing each year.