Passage of Proposition No. 2 will allow the levy of property taxes over a six-year period to rebuild and renovate Federal Way High School. Originally built in 1929, the building has been expanded and renovated over the last 80 years. This $60 million levy represents about half of the total budget required. The remaining balance will be funded by state school construction assistance funds and other capital funds. In addition, the anticipated state school construction assistance will be used to replace and update elementary playgrounds and implement a district-wide security camera installation to safeguard our buildings, staff and students. More details can be found at http://www.fwps.org/info/levy/capital_levy.html
Passage of Proposition No. 2 will allow the levy of property taxes within the District for collection in the amounts of $7,900,000 in 2013, $8,300,000 in 2014, $8,900,000 in 2015, $9,600,000 in 2016, $12,400,000 in 2017, and $12,900,000 in 2018. If authorized by the voters, such property taxes would be collected at a rate estimated to be $0.74 per $1,000 of assessed valuation in 2013, $0.77 per $1,000 of assessed valuation in 2014, $0.82 per $1,000 of assessed valuation in 2015, $0.87 per $1,000 of assessed valuation in 2016, $1.10 per $1,000 of assessed valuation in 2017 and $1.12 per $1,000 of assessed valuation in 2018.
The exact levy rate shall be adjusted based upon the actual assessed value of property within the District at the time of the levy.