Passage of Proposition 1 enables Auburn School District to finance the construction of new and replacement schools by issuing up to $490,000,000 of general obligation bonds. If voters approve this proposition, the District will use the bond proceeds to (1) construct and equip a new Middle School #5, (2) construct and equip a new middle school with enlarged capacity to replace Cascade Middle School, and (3) construct and equip a new elementary school with enlarged capacity to replace Alpac Elementary School. These projects will increase school capacity and reduce class sizes, modernize technology and student learning environments, improve safety and security, and improve and expand playfields and athletic facilities for student and community use.
If voters approve this proposition, the District expects to receive approximately $26,000,000 in construction assistance funds from the State to complete these projects. The bonds will mature within 20 years and be repaid from annual excess property tax levies. Based on projected assessed valuation information, the District estimates the excess levy rate to average $1.04 per $1,000 of assessed property value.
A property tax exemption may be available to senior or disabled homeowners who meet specified income limits. For information regarding exemptions, call the King County Assessor at (206) 296-3920.