Committee Learns About Tax Rates and Bond Processes
Posted on 06/24/2021
At last night’s Just for Kids meeting there were presentations from both the District’s financial advisor and their bond counsel. They discussed the District’s bonding capacity, financial rating, bond process and tax rates. The bottom line is that it’s estimated that the District can take on $187.5M in bond debt without raising the overall tax rate for homeowners. Although the Debt Service tax rate will increase slightly, the Maintenance tax rate is declining based on the state compressing the tax rate. This enables the District to maintain the overall tax rate that homeowners currently pay. The District’s legal council explained how the bond propositions will be structured on the ballot and how best to ensure that all anticipated projects are delivered within the proposed scope of the bond. The fifth meeting will occur next week at Canutillo Middle School, on Tuesday, June 29 at 5:00 p.m.