Passage of Proposition 3, Bonds to Reduce Overcrowding and Enhance Student Learning Environments, would authorize the Lake Washington School District to sell $299,000,000 in general obligation bonds to build new schools and add classrooms for its growing student population. The district has grown by over 4,000 students in the last five years and continued enrollment growth is expected.
The projects included in this bond were identified by a 63-member community based task force that studied the district facility needs over a comprehensive year long process.
The bonds would be repaid out of annual property tax levies over a period of up to 20 years. The tax rate for bonds in the district is estimated to remain at or below the current tax rate of $1.31 per $1000 of assessed value. The bonds will replace past bonds that are being paid off.
Projects include building one new elementary school, one new choice high school, and an addition at Lake Washington High School; rebuilding and enlarging Kamiakin Middle School and Alcott Elementary School, acquiring land for new schools; and completing other capital projects across the district.
The district expects to receive $15,000,000 from the state construction assistance program to help fund these projects.
Further information is available on the district’s website at www.lwsd.org.
Exemptions from taxes may be available to homeowners who are 61 or older, or disabled, and who meet certain income requirements. For more information, call the King County Department of Assessments 206-296-3920.