Seattle Public Schools requests voter approval of a capital levy of $1.4 billion for the Building Excellence V (BEX V) Program. The proposed levy will replace an expiring capital levy.
Passage of Proposition No. 2 would allow the levy of taxes over a six year period to pay for earthquake and other safety projects in six schools, renovation, construction, replacement or additions to seven elementary schools, one middle school, one high school, and one interim school, construction of building condition and infrastructure improvements and major preventive maintenance at 72 schools, and acquisition and installation of technology equipment and implementation of training and other measures throughout the district to meet the current and future educational needs of its students.
The total amount to be collected will be $233,333,333 annually in the years 2020 through 2023 and $233,333,334 annually in the years 2024 and 2025. The estimated levy rates per $1,000 of assessed value will range from $0.90 per one thousand for 2020 collections to $0.56 per one thousand for 2025 collections. The exact levy rate will be adjusted based upon the actual assessed value of the property within the District at the time of the levy.
Exemptions from taxes may be available to certain homeowners. To determine if you qualify, call the King County Assessor at 206-296-7300.