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School District Inches Towards November Tax Bond Ballot Measure

The Alameda Unified School District is inching towards voting on tax bond measure in June, for the November ballot. (File Photo)

The Alameda Unified School District is inching towards voting on tax bond measure in June, for the November ballot. (File Photo)

The average property owner in Alameda could pay an additional $243 per year in school taxes if the Alameda Unified School District (AUSD) sets it sights on raising the maximum possible amount through a November tax bond ballot measure intended to raise money to fix school facilities.

That’s the analysis that AUSD Chief Business Officer Robert Clark will present to the school district board of trustees tomorrow night, in a presentation on the possible structure of such a bond issue.

A $60 per $100,000 of assessed value tax levy could generate $179.5 million in proceeds for the school district.

Such a levy would translate into an additional $243 per year in tax obligations for property owners at the average assessed value of residential property of $405,000.

The additional $60 levy, on top of the existing $54 per $100,000 of assessed value for outstanding bonds issued pursuant to Measure C in 2004, would create a combined levy of $114 per $100,000 of assessed value for facilities tax bonds for the school district.

That same property owner with a home assessed at $405,000 would pay $456 ($114 x 4) in taxes per year for the Measure C bonds, and any new bonds combined.

That tax would be on top of the school parcel tax passed in 2011, under Measure A.

If the $405,000 home was 1,500 square feet, the property owner would pay $480 under the parcel tax, or $936 per year for both taxes.

Owners of property with higher assessed values, and more square feet, would pay more.

The school district still owes some $170 million in interest and principal repayment on $63 million in bonds approved by voters in 2004.

The new bonds would be issued under California Proposition 39 (2000) which requires a 55 percent supermajority approval by voters.

The school district is expected to vote on a final bond structure and ballot measure language in June.

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