Dear Dot,
I've been seeing things in the paper about school bonds. I am a little fuzzy on how these bonds are paid off. Do they raise our taxes to pay for the bonds? Or do they take money away from other parts of the budget to pay for them? If we vote bonds in, do we have to vote again on how to pay for them?
Leonard Avery (Sarge)
Northglenn
Dear Sarge,
Thanks for the question! Bond issues can be confusing. To clarify what's going on,
Deb Haviland with Adams School District 50 provided some information. The school district is one of three Adams districts with bond issues this year.
Bonds are purchased by the school district and paid back completely by the school district over time. A bond election generates revenue for major construction and/or renovation of facilities and schools, compared to a mill levy, which is designed to increase revenue for operational needs of a school district, which could include educational support, programs or salaries.
The state provides only $271 per pupil annually for maintenance and renovation of older facilities, so asking taxpayers to approve a bond is the only way school districts can obtain funding for construction.
Both a mill levy and a bond can increase taxes for homeowners and businesses.
For the district 50 bond, the cost to homeowners is $6.98 monthly per $100,000 of a home's assessed value. The bond would be in effect for 20 years starting spring 2007.
To read more about District 50's bond, click here.
Bond issues in Adams County:
Adams Brighton 27J
• Amount: $89 million
•To be used for: Build two elementary and two middle schools, plus selected projects at existing buildings.
•Homeowner cost: About $51 per year for each $100,000 of assessed valuation.
Adams Commerce City 14
• Amount: $78 million
•To be used for: Build a new high school and upgrade existing schools.
•Homeowner cost: About $123 a year on a home assessed at $200,000.
Adams Westminster 50
• Amount: $98.6 million
•To be used for: Build a high school and elementary school, plus renovations of existing structures
•Homeowner cost: $84 per $100,000 of assessed valuation.
Source: RockyMountainNews.com