Tuesday, August 04, 2015

The STEALTH $62 Million School Bond - YOUR TAX Increase

As the annual County Tax Notices did not include the effects of the proposed $62 MILLION School Building Bond, here is an example of what you can expect for your property TAX, if the bond appears on the ballot in November and passes.  (Update:the school board DID approve the bond to be voted on THIS year - through a mail-in ballot.)

Public Meeting Notice: "on August 18,2015, the Board of Education (the “Board”) of the Wasatch County School District, Utah (the“District”), adopted a resolution (the “Resolution”)"

It is uncertain at this time whether taxes will change in 2016 or 2017. (Update: if passed, taxes WILL increase next year.) 

Approval of this $62,000,000 proposed bond:

  • Will increase your school tax bond (debt) burden by over 60%, and
  • Will increase your total school taxes by about 15% (for 2/3 or your total property Tax)
  • AND increase your TOTAL property tax bill by about 10%

If you would like to compute YOUR new taxes go to this link to determine your own increased TAX burden.
  • Enter YOUR 2015 Property Value and taxes in the GREEN boxes 
  • Enter YOUR School taxes in the YELLOW boxes for 2014 & 2015 
  • This blog will reflect the most recent entry.
Also please note:
  • After a “truth” in taxation hearing Summer 2016 – the new building operating tax would probably begin BEFORE new buildings are finished.  
  • NO expenses appear to have been budgeted yet for modification of OLD pool area (= more $$$$)
  • If the bond does NOT pass, the School District has 'promised' to implement better utilization of the existing schools - at a MUCH lower cost.

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