How Much will the New Bond Cost Homeowners?
The District is currently working with bond underwriters to determine the exact cost, but the goal is to produce a financing package that will result in no increase in overall taxes. This is possible because a large portion of the bonds used to build Mt.Spokane High School will be paid off in 2011. Based on current figures for our outstanding bonds, the current (2010) rate is $2.20 per thousand, estimated to be $2.30 per thousand in 2011, and $.60 per thousand in 2012. This means that if the proposal passes in February, Mead patrons will see a tax rate estimated to be $2.20 or less per thousand, giving the community an opportunity to renovate three schools and complete a host of other projects while leaving property taxes level.
