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This page focuses on the estimated cost impacts for property owners and renters.
The chart below shows the expected taxes the district will collect from local taxpayers each year for the 24 year repayment schedule of the new proposed bond to cover bond principal, bond interest, and fees. It also shows the expected remaining payments (taxes to collect) for the existing bond debt.
Figure 1
This next chart shows the estimated obligated bond costs for the owner of an example property with a 2025 AV (assessed value) of $475,000. This chart assumes zero new construction which is the conservative case. School districts should be conservative with other people's money.
Figure 2
This next chart shows the estimated average annual taxes for just this 2025 bond for local property taxpayers. The worst case scenario for taxpayers is usually the assumption of zero new construction. Another reasonable scenario to consider is continued new construction (despite high interest rates) for each tax collection year of this one bond at the same pace as 2025.
Figure 3
The district's cost analysis's snapshot is shown in the image below with the red border
An analysis of the district's cost analysis
There are several problems with what the district is presenting for their own cost analysis.
Estimated future rates are meaningless as the calculator version 2 demonstrates.
The district is only showing 5 years of their meaningless estimated future rates. This new bond has a 24 year repayment schedule - not 5 years. Taxpayers will be paying for it from 2026 through and including 2049.
The district mentions the new bond's principal only, the $200 million. But the district fails to clearly describe the additional $151 million for just estimated bond interest bringing the total to local taxpayers to $351 million.
The district fails to clearly remind citizens/taxpayers of the existing remaining bond debt payments (bond principal and bond interest) totaling $863 million that they will be paying for until 2040.
The district is piling debt upon debt with the payments (taxes to collect) escalating.
District's bond/levy projection datasheet
Existing remaining bond debt payments including the 2026 sub-bond issue that is part of the 2018 voted on bond and the 2024 sub-bond issue that is also part of the 2018 voted on bond.
This next chart shows how the district is preplanning to run another 24 year bond in 2030 to start collecting taxes on in 2031.
From the shape of the bond taxes to collect profile, it appears that the district is planning to run another 20+ year bond in 2038 to start collecting on in 2039.
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