2006 Oakville School Levy Concerns

Quotations from The Cruiser
My Position
"our philosophy is to save half of the new levy money in a Capital Fund...

""build a savings account with about half the levy dollars"

"the levy asks us to save half of the money to build with, in a capital fund, that will earn interest"

Which is it? Capital Fund or Savings account?

How much will be saved?

Where did the levy describe any building, savings or capital fund?

"saving $180,000 a year for five years would earn us..."

"will put over $350,000 collecting interest"

"for the next two years and put about $380,000 into the capital fund"

How much is $180,000 times 2?

Is this a 2 year levy or a 5 year levy? Or will you have a total of 3 levies?

Again, how much will be saved?

"this increase is not all for normal maintenance and operations.."

"while no specific project has been chosen by the Board..."

"the decisions haven't been made as to how the district will proceed from the recent engineering survey suggestions"

"whatever the outcome of the survey we are looking at the kind of capital investment..."

"when construction begins in three or four years"

I'm left wondering what the money will really be spent on.

How can the board be accountable?

If it is not M&O then it must be a Capital Project and it should then be a Bond Levy.

This tells me there is no plan, I as a voter can count on. You simply want more money.

"that bond plan eventually costs tax payers about double what is needed because of the interest"

"this plan can make your money grow by about 10% over five years, rather than lose 20% to mortgage interest pay back over the typical 10 year bond life"

"borrowing $1 million with a ten year bond, would cost about $275,000 in interest over the ten years"

Double isn't the same as 20% and neither of those are the same as $275,000.

Is this a 2 year levy or a 5 year levy or 3 separate levy elections?

-

"power and fuel bills has added thousands"

"add mandated teacher pay increases with rising health care benefits"

Why aren't real dollars shown?

What was the increase in M&O tax revenue* during this period?

"but when you realize it is a plan to save you money"

"now plot the line of levy dollars we have not increased"

"this plan can make your money grow by about 10% over five years, "

"this proposal will double only that portion of your taxes for the next two years"

Saving me money by taking it away isn't logical. How can I plot a line for unspecified and unknown increases?

Finally how can you plan for 5 years of savings and 5 years of interest and tell me the increase is only for 2 years?

"$684,000 for adding classrooms"

"replacing the elementary building for $4.8 million"

"the strategy is to avoid long term bond debt in favor of a save and pay as you go plan."

These sound like capital improvement projects not M&O.
Favorite taxpayer quote : "This is a renewal of your existing 2 year levy at the same level for normal operations and maintenance, with an increase of 1.895 mils for the next two years for needed major repairs."

when it simply was "A new levy at double the rate"

*The Washington State Department of Revenue shows Grays Harbor assessed values increased from $3.563 billion in 2001 to $4.032 billion in 2005.

In 1999 the assessed values for District 400 were $72.4 million and the M&O tax collected $101.5 thousand.

In 2004 values jumped to $83.9 million, the M&O tax increased to $143 thousand - a 43% revenue increase

This page created and maintained by Dave Palmer