What is the amount and term of the bond and what will it cost property owners?
The $207 million bond, Proposition R, translates to a maximum of $25 annually over a 30-year period for every $100,000 of assessed valuation, or a maximum of $2.08 a month. Assessed valuation refers to taxable value, not the market value of your home. The taxable value of your home or business will depend on when you purchased it. Because many East County residents have owned their homes or business property for many years, the average assessed value is $170,000.
Related Questions
- How is "fair market value" calculated? Are property owners going to be compensated for only their property, or also the cost of moving and taking time off work?
- What is the annual cost of membership in the Stonegate Farms Property Owners Association (POA) and how are these costs adjusted?
- How much will the levy cost property owners?
