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Bond Task Force Committee

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					Sedro-Woolley School District
 Informational Presentation
        2007 Bond


 For More Information: www.swsd.k12.wa.us
Bond Task Force Committee Members
    Mike Crawford       Karl Shewmaker
    Gary Duranceau
                         Carole Straathof
    Jeff Grizzel
                         Deidre Stroosma
    Neil Hansen
                         Becky Taft
    Bob Hickman
                         Michelle Kuss-Cybula
    Steve Huggins
                         Tim Howland
    Travis Huisman
                         Dave Carroll
    Gary Kruger
                         Mark Venn
    Steve Lidgard
                         Kathy Ehman
    Heather Mahaffie
                         Stewart Mhyre
    Renata Maybruck
                         Mike Riddle
    Gayle Nilson
                         Rhonda Rader
    Andy Porter
                         Robyn Miller
    Chuck Ruhl
   Bond Development
   Timeline

 December 2004: District Demographic Study
 January – June 2006: Facility Committee Meetings &
  Study and Survey
 September – December 2006: Bond Task Force Meetings
 November 2, 2006: Community Meeting at CMS
 November 14, 2006: Community Meeting at Evergreen
 December 11, 2006: Recommendation to School Board
    SWSD Enrollment History
    October Figures
6,000


5,000
                                                                  2015
                                                               Projected
                                                               Enrollment
4,000                                                2010        5,066*
                                                  Projected
                                                  Enrollment
3,000                                   2005        4,757*
                                     Enrollment
                                       4,373
                           2000
2,000                   Enrollment
                          4,355
              1995
1,000      Enrollment
             3,867

   0
                                     Enrollment
SW Assessed Valuation History

 1995   907,265,576
 2000   1,340,667,914   48% increase
 2002   1,466,231,990   9% increase
 2005   1,850,121,663   26% increase
 2007   2,283,156,441   23% increase
 SW Bond Tax Rate Comparison


1995 Bond                       2007 Bond
Amount: $15,000,000             Amount: $45,000,000
Tax Rate: advertised at $0.94   Tax Rate: advertised at $0.92
per $1,000 increase             per $1,000 increase
                                (current assessed valuation)
                             Projected Bond Tax Rates
                                                           Projected Bond Tax Rates
                                                                   $45 million scenario
                             $2.50
Levy/ $1000 Assessed Value




                             $2.00

                             $1.50

                             $1.00

                             $0.50

                             $0.00
                                     2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

                                                             Existing Bonds    2007 Issue     2008 Issue    2009 Issue
  Skagit County School Districts
  Tax Bond Rate Comparison
  (2007 assessed value figures)

LaConner SD                 $ 638,115,475    $1.93
Mount Vernon SD             $3,054,379,279   $1.69
Burlington-Edison SD        $2,769,458,788   $1.62
Conway SD                   $ 392,109,518    $1.07
Sedro-Woolley SD            $2,283,156,441   $0.89
Anacortes SD                $4,342,099,065   $0.76
Concrete SD                 $ 384,470,311    $0.00
2007 Sedro-Woolley School District
Bond Focus

              Excellence
              Efficiency
      Every Student Benefits!
   Excellence….
• Strategic Plan Mission Statement: “Every student graduates with the
  knowledge and skills for future learning and success.”
• Strategic Plan Goal #2 Facilities: Provide and maintain quality
  facilities and support services (transportation, maintenance,
  operations, and food services) necessary to efficiently and safely
  provide high quality educational and extracurricular programs, and
  instill staff, student, and community pride.
• Enhanced Learning Environment
• Investment in Education, the Community, and Every SWSD Student
• Improved Test Scores
• Higher Expectations and Standards for the District, Students, and
  Community
   Efficiency….
• Flexible Future Growth
• Reasonable Tax Increase
• Reasonable Facility Plans
• $10.2 million state-match and impact fee money will be received
  with this Bond.
• Safety Issues Addressed: air quality, built to today’s standards,
  traffic, and safe-learning environment.
• Energy Efficient
• Consistent, Equitable Payment Over Time
          “Every Student Benefits”
• Covered Activity Areas for: Lyman, Samish, Clear Lake, Central,
  Mary Purcell, and Evergreen                            (2008)
• Covered Courtyard at SWHS for Additional Lunch Space (2008)
• New Middle School                                       (2010)
• Remodeled Elementary for Evergreen Attendance Area      (2011)
• Five-New Classrooms for Mary Purcell Attendance Area (2012)
    (to replace 1966 portables)
• Four-New Classrooms for Big Lake Attendance Area       (2013)
  Bond Projects

$45 Million Bond ($9 M State Match & $1.2 M Other)
• New Middle School @ Janicki Playfield Site ($37.8)
• Evergreen Remodel ($11.8)
• Mary Purcell – 5 Classrooms-Portable Replacement ($2.4)
• Big Lake – 4 Classrooms ($2.1)
• Covered Activity Areas/SWHS Cafeteria ($1.1)
   How much will the bond cost me?
• Bond Cost is projected to be an increase of $0.92 per
  $1,000 assessed valuation of your home.
• A home assessed at $175,000 would pay an additional
  $160.19 per year. ($13.35 per month)
• A home assessed at $200,000 would pay an additional
  $183.07 per year. ($15.26 per month)
• A home assessed at $250,000 would pay an additional
  $228.84 per year. ($19.07 per month)
• When the assessed value of an area goes up, the school tax
  rate per $1,000 for homeowners goes down.
SW Bond Tax Rate History
  $0.89   2007 Current Bond Rate
  $1.06   2006 Bond Rate

  $1.08   2005 Bond Rate

  $1.27   2004 Bond Rate

  $1.30   2003 Bond Rate

  $1.34   2002 Bond Rate
Bond Election & Voter Information
All mail-in ballot election, postmarked on or before April 24
April 24, only drop-off locations will be at:
     • Sedro-Woolley Community Center
     • Big Lake Elementary School
     • Clear Lake Elementary School
     • Samish Elementary School
      • Lyman Elementary School
If you are a senior citizen or disabled, you may qualify for a tax
exemption or deferral. For more information please call the
Skagit County Assessor’s Office at 336-9370.
  PROPERTY TAX Tax Explanation
  EXPLANATION
            Property

                                             $1000 Bond Levy




                                  $250       $250      $250       $250




                                $100,000   $100,000   $100,000   $100,000

Imagine a small school district that consists of four homes, each exactly the
same, and each appraised by the Assessor at $100,000. Let’s also say that
the district’s maintenance and operations levy for our imaginary district is
$1000. To raise the amount of the levy, each homeowner must pay $250.
Four homes each paying $250 raises $1000. Changes in home values
don’t change the amount of school taxes authorized.                             17
 PROPERTY TAX
 EXPLANATION                                        Property Tax Explanation

                                           $1000 Bond Levy




                                $250       $250      $250       $250




                              $200,000   $200,000   $200,000   $200,000


Let’s say next year’s levy remains at $1000, but the Assessor doubled the
assessed value of all the homes to $200,000 each. Not counting the cost of
the Assessor recall election, do the taxes on each of the homes change? No.
To raise the authorized levy amount each must still pay $250. In this
example, the assessed value of each home doubled, but the tax didn’t
change.                                                                        18
     PROPERTY TAX
    EXPLANATION                                                  Property Tax Explanation

                                                  $1000 Bond Levy




                                      $187.50     $250       $250       $312.50




                                     $150,000   $200,000   $200,000    $250,000
Now let’s get a bit more realistic and say that the values on the homes change differently.
Suppose one home goes from $100,000 to $150,000. Two homes double in value to $200,000
and the last home jumps up to a whopping $250,000! Now what happens to the taxes? Well, the
average value of the four homes is still $200,000. So the taxes on the two homes that go to
$200,000 are unchanged. They are at the average and they each still pay $250. The lowest
valued home sees its taxes go down to $187.50, even though the assessed value goes up 50
percent! The home that jumped 150 percent to $250,000 in value sees its property tax go up to
$312.50, a 25 percent increase. In the end, we still only raise $1000 total to meet the budget.   19
   PROPERTY TAX
  EXPLANATION                                                  Property Tax Explanation
                                               $1000 Bond Levy




                          $200        $200       $200       $200         $200




                        $100,000    $100,000   $100,000    $100,000    $100,000

I have one more illustration that I think would be useful in our discussion. Let’s look at
what happens if someone moves into our small school district and builds a new house. If
we again say the assessed value of each home is the original $100,000 but add a new
home, look what happens to the individual property tax on each home. Five homes
supporting the $1,000 levy means each home now pays only $200 each. While growth
brings more demand for government services, and is likely to push up demand for a
greater budget, the initial effect is decreased taxes.
                                                                                             20
PROPERTY TAX
EXPLANATION                         Property Tax Explanation


Bottom Line
    • If your property value increases at a lower rate than
      the average increases for the school district, the
      amount of taxes you pay will decrease.
    • If your property value increases at a higher rate than
      the average increase for the school district, the
      amount of taxes you pay will increase.




Source: Spokane County                                         21

				
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