Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Taxation topic
No spam. Unsubscribe anytime.
District imposes permanent tax rate and debt-service levy; board explains purpose
Summary
After approving the budget, the Santiam Canyon SD 129J committee adopted a permanent tax rate of 4.8880 per $1,000 of assessed value and authorized a $1,185,316 debt-service levy for general obligation bonds; staff said rates are unchanged from the prior year.
The Santiam Canyon School District 129J committee moved to impose the permanent tax rate of 4.8880 per $1,000 of assessed value to support the general fund and also approved a debt-service levy for $1,185,316 to fund general obligation bond payments. Staff stated the permanent tax rate mirrors the prior year and is expected to generate $2,952,964 in tax revenue at the projected assessed value.
District staff explained that the debt-service imposition is the mechanism to collect for outstanding general obligation bonds and includes a modest cushion to offset the fact that not all taxpayers pay at 100% collection rates. "This tax rate is expected to generate $2,952,964 in tax," the motion recitation read aloud before the voice vote. Both motions passed on voice votes; the board and staff said final resolutions will appear at the board's June meeting for formal record and publication.
