Business office: property tax statements arriving; bond rate shows small decline

Hermiston School District business office staff told the board on Oct. 13 that property tax statements are being mailed and will list the district twice: once for the general fund (permanent rate) and once under debt service for voter-approved bonds.

The nut graf: the business office said early online postings indicate the district’s bond rate is falling by about $0.12 per $1,000 of assessed value, which staff described as aligned with bond planning and rising assessed values; individual taxpayers may still see increases due to statutory assessed-value growth.

Katie Sol of the business office said statements will show the district in two places: the top line for the general fund (permanent tax) and a separate line for debt service tied to voter-approved bonds. "I'm happy to report ... it looks like our bond rate is going down about 12¢ per thousand," Sol said, adding that while rate decreased, statutory assessed values can still cause an individual tax bill to rise. She said the 2009 bond label on tax statements covers bonds issued since 2009 and that the district’s most recent bond debt is included in that grouping.

On monthly budget reports, staff said timing caused a higher intermediate-month balance because July and August payments were both recorded in August; state school fund estimates can change and projections will shift accordingly. The business office reported being about $202,855 below projections for the month and about $5,000 under year-to-date projections on the expenditure side; staff estimated an ending fund balance projection near 10.01% for the year-to-date period presented.

Board members asked for additional multi-year variance documents; staff offered to provide those outside the meeting. No formal board action was taken on these informational finance updates.