Passage of Proposition No. 1 allows the Federal Way School District to issue no more than $450,000,000 of general obligation bonds to alleviate elementary overcrowding, and replace or upgrade aging facilities and improve school safety features.  The bonds will be repaid from annual property tax levies over a period of up to 25 years.   This bond will maintain the current tax collections at their current levels of approximately $2.05 per $1,000 of assessed value.  The exact levy rate shall be adjusted based upon the actual assessed value of property within the District at the time of the levy.

With 20 schools and facilities more than 40 years old, and our elementary schools housing 1000 elementary students over capacity coupled with an expected enrollment growth of 1% a year for the next decade, the School Board determined that there is an urgent need for the creation of new classrooms and the replacement of aging and outdated schools.  These funds will be used for Thomas Jefferson High School, Totem and Illahee Middle Schools, Lake Grove, Mirror Lake, Olympic View, Star Lake, Wildwood elementary schools, Memorial Stadium and other facilities district wide.

The District anticipates receiving approximately $90,000,000 in State assistance, to be used to relocate Mark Twain Elementary, provide for major maintenance in other schools, and upgrade security at all locations.  For additional information see http://www.fwps.org/bond

Exemptions from taxes may be available to certain homeowners.  For more information, please call the King County Department of Assessments 206.296.3920.