Declining property values force Whittier Union Buy Ghd Sydney High School District to raise taxes for bond issue
WHITTIER >> Citing falling property values, the Whittier Union High School District Board of Education has voted to raise the amount of property taxes higher than planned for a $75 million bond issue from 2008.
When the bond was approved by voters, the price tag was supposed to go no higher than about $45 per $100,000 assessed valuation or about Nike Free Run Sale Australia $110 for a typical homeowner.
But when it came time to issue another $18 million in bonds $38 million was issued in 2009 the board was forced to raise the property tax level in order to afford the Abercrombie Perth Australia cost, said Paul Muschetto, associate superintendent of business services.
The plan in 2008 called for property taxes to remain level. The additional money would be paid for by extending the existing tax on a 1999 $98 million Measure C bond from 2032 to 2039.
collapse of the housing market and drop in assessed values have changed all of the projections, Muschetto said.
So, the board Tuesday approved the sale of $18 million in bonds and set Roshe Run Natural Motion the new tax level at nearly $55 per $100,000 valuation, increasing property tax by $10.50 per $100,000 assessed value or about $25.56 annually for a Air Jordans Sydney typical homeowner.
The increase is expected to last about nine years.
The first $38 million paid for a new Pioneer High football stadium, improvements on the Santa Fe and Whittier high athletic fields and Cheap New Balance Classics other projects, Muschetto said.
The football stadium is expected to be completed by November of 2014, he said.
The additional money will Ghd Online Shop pay for a new football stadium at California High, athletic field improvements at La Serna High School, band room, library and administration office projects at Santa Fe, and cafeteria improvements at Pioneer and Santa Fe, Muschetto said.
Board member Ralph Pacheco said the improvements are needed.
talking about facilities that were 50 to 60 years old and needed to be replaced, Pacheco said. hopeful that these new facilities, which will be built, will benefit the community long term. Long after we gone, they be serving generations of students. said the board had two option financing options. The one it picked pays the additional bond off in nine years, instead of the traditional 30 years.
This option will save the district taxpayers about $30 million, he said.
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