Banks sending school bond levy to voters in fall

Early polling shows voters are in favor of raising property tax

By Christian Gaston

The Forest Grove News-Times, Jul 1, 2010, Updated Jul 1, 2010

ADVERTISEMENTS

The Banks School District is about to ask voters to raise their property taxes and, so far, it looks like they’re likely to say yes.

The district is aiming to put a $25.9 million construction bond on the November ballot, almost identical to the $25.5 million bond that voters shut down by just 72 votes in two years ago.

But Banks superintendent Jim Foster said the game’s a little different this time around at the ballot box.

The district commissioned a survey of likely voters and found that participants’ initial response to the idea of a bond levy was favorable, with 48 percent saying they’d vote for it and 39 percent saying they’d vote against it. Only 13 percent weren’t sure.

But the district could qualify for a no-interest loan from the federal government to the tune of $15 million. If that happens, the cost of repaying the debt drops significantly.

Without the loan, taxpayers would pay about $1.72 per $1,000 of assessed value. With it, the rate drops to $1.45.

Either number is less than the $1.99 per $1,000 that the 2008 bond would have cost taxpayers.

When survey participants were told about the loan, support for the bond increased to 61 percent, with 30 percent opposed and only 9 percent unsure.

Foster said the district convened a blue-ribbon panel to determine how best to pay for improvements to the district’s buildings.

1 | 2 Next Page >>