Videos

Cheney Public School Replacement Levies & School Bonds Explained

Added Jan 02, 2024 •

Copy this URL:
Embed code:	<iframe class="edlio-embed-player" type="text/html" width="640" height="360" src="//www.cheneysd.org/apps/embed/?v=366558" frameborder="0" allowfullscreen></iframe> Change dimensions

Listen as Cory Plager of D.A. Davidson takes an in-depth look at each of the district's three propositions on the ballot for the upcoming Special Election on February 13, 2024. Plager also discusses historical tax rates for the Educational Programs and Operations Levy, Bonds to Construct and Improve Schools and Acquire Land, as well as the Capital Projects Levy for Technology, Security and Improvements.

Show Transcript

hello my name is Corey Seager I work for d a Davidson a firm in Spokane is supporting Cheney School District with tax rate analysis and projections in this video we will show information about the replacement levies and school bonds you will see on your ballot come to February before we get started let's do a quick review of the different taxes that voters have supported and are currently paying it she needs School District the educational programs and operations Levy which I'll call EPA from now on is flexible revenue from taxpayers it's collected locally that customarily supports lower class sizes Athletics and the Arts but is also coming to fill in with a state fall short in funding likes call nurses in special education in Washington state over 285 school district have a piano Levi and they are limited to a levy lid so they cannot ask for amounts in excess of State limits the capital Levy support infrastructure and technology and is kept in a different fund than the EPL revenue and schools can use Capital levies to buy one to one computers for students support school safety do repairs for roofs HV AC heating cooling other items that keep the building's functioning a school bond provides funding for purchasing property constructing new schools or modernizing existing schools if that's more cost-effective and the most recent Bond was approved in two thousand and teen and most of that Bond went to renovating an overcrowded Cheney High School 1 reminders that school district levies require routine voter approval and also senior citizens or disabled persons made Bolivar for property tax exemptions you can call the county assessor at 509-477-5754 or visit the County website for more information so let's dig in Worcester by reviewing Proposition 1 the education programs and operations Levi arguably the most important Levi impacting student learning under the screen is a section of the board approved a resolution and that shows what you'll see on your ballot from February it's about as required to be briefed this is only a sample of what the proceeds are going to be used for school safety Athletics extracurricular art music special education and staff not funded by the state is mentioned here schools also use levies for high school college and high school AP classes reduce class sizes nurses counselors / Educators voters approve a levy so you'll notice on this ballot is I'm out with an estimated Levi rate 4000 the school district is responsible for estimating the tax rate impact for every $1,000 of property value this is a levy that must be regulated approved by voters the maximum allowed by law last four years but you'll notice Cheney historically has asked for three of your levies and they're doing so with your as well more information on the E piano Levi is available at Cheney sd.org and you'll be more information in your Spokane County local this slide shows the tax rate history for a piano at Cheney school district and the forecasted proposed replacement Levy of a dollar 90 even through the year 2027 the last Levy was approved by the voters in 2021 and it was estimated that time to be a dollar 65 per thousand with assessed valuation exceeding estimate you can see actual tax rate was below that dollar 65 for the last three years and the forecast for 24 on the next slide is the second proposition the bonds to propose approved and construct schools in Ireland this ponds are proposed to build a new school in Airway Heights to relieve overcrowding and reduced Portable Buildings and Facilities Safety and Security improvements some of the proposal include the updating heating venting an air conditioning Plumbing lighting parent pick-up Bus Loop improvements and other Traffic Safety improvements walkways and Ada upgrade in addition this Bond would Finance the purchase land for future Elementary and secondary school sites next page will see what is that tax rate look like in tan is the existing bond and in Gray is the future projection of the tax rate based on this proposition the bond is forecasted to cost taxpayers $0.53 per thousand for a total bond rate of $1.88 the current proposition is based on a 21-year rip payment schedule the third and final ballot proposition was approved by the school board is the capital projects Levy in this one is a replacement Levy the levy is requesting a support in the voters to provide technology and safety throughout the school district this is replacement Levi in the Prius Levi was approved in 2021 for $0.10 per thousand and it was supported by over 58% of the voters at that time a school district's request Levi staff dedicated resources they do not take away from educational program so this will be in a second fund a supporting a capital Levy and Technologies here is what the tax rate looks like for Levi the genie first pass a capital Levy in 2020 calendar year and is 1 of 125 School District to have a capital Levy the forecast in Draper thousand is $0.09 and the current capital Levy in 2023 is $0.08 per thousand now that's at all three of the proposed School measures together and see what the projected total local school tax rate is approve all three propositions the easy piano Levi the capital Levy for Technology and Safety and the school bonds the total local rate for Cheney is forecasted to be $3.94 per thousand you can your property value / $1,000 and multiply that by the $3.94 to see what your total estimated tax bill will be for 2025 this tax rate of $3.94 to the bear similar to the tax rate in 2020 and 2021 and lower than historic tax rates would have been in excess of $5 per thousand we hope this overview of Cheney School District local taxes has been informative helpful and thanks for watching

Videos

Cheney Public School Replacement Levies & School Bonds Explained

More videos in Bond & Levy Information