Why was the bond measure referred to voters now?
The current bond will be paid off in 2020. If the proposed bond is passed, the current tax rate of $1.19 per $1000 of assessed value would remain the same.
What would the cost be to taxpayers?
If the bond passes, the tax rate for the proposed $65 million bond would remain at $1.19 per $1,000 of assessed value.
If the proposed bond does not pass, no additional tax assessment would be made and the proposed projects would not be completed.
What is a bond?
A bond is a request by a school district for approval to issue debt to fund capital building projects. Capital building projects are usually building renovations, replacement of roofs and security upgrades, or the construction of new school buildings. The Centennial School District has no plans at this time to build new schools.
Centennial School District’s tax rate has decreased over the last decade.
In 2010, Centennial School District’s tax rate was $1.97 per $1,000 of assessed value, and in 2020 it is $1.19 per $1,000 of assessed value. Here are the rates from 2010 through 2019:
Match from the State