Puyallup's enrollment is expected to grow by 1,000 students over the next decade. To support this growth, voters will be asked to consider Proposition 1, a bond measure to expand, replace, and build schools within the district.
Our recently passed capital levy plays a crucial role in Proposition 1. By rolling back levy funds into the bond, the district can access funding quicker, allowing us to tackle existing and new projects sooner while maintaining a steady tax rate. This approach will enable us to expedite improvements and address the needs of our growing student population. If approved, Proposition 1 will maintain the current tax rate of $4.14 per $1,000 of assessed value, keeping costs stable for homeowners at approximately $36.25 per month for a $500,000 home.
The $36.25 per month calculation represents the increase in taxes due to the voter-approved 2024 Capital Levy, which is projected to raise the total cumulative tax rate from $3.27 to $4.14 per $1,000 of assessed value in 2025. This increase of $0.87 per $1,000 calculates to approximately $36.25 per month for a home valued at $500,000.
The total tax rate of $4.14 per $1,000 includes all existing bonds, the Capital Levy, and the EP&O Levy. If Proposition 1 passes, this cumulative tax rate will remain at $4.14, ensuring no additional increase to the rate.
Understanding the connection between the capital levy and Proposition 1 will help voters make informed decisions regarding the future of Puyallup's educational facilities and accommodate the district's growing student population.
To learn more about how the capital levy rollback affects Proposition 1 watch this video here.