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Vashon Island School District No. 402 Proposition No. 1

Replacement of Expiring Educational Programs and Operation LevyThe Board of Directors of Vashon Island School District No. 402 adopted Resolution No. 756, concerning a proposition to finance educational programs and operation expenses. This proposition would support the District to meet its educational goals by levying the following excess taxes, in place of an expiring levy, on all taxable property within the District, for support of the District’s General Fund educational programs and operation expenses not funded by the State: Collection YearEstimated Levy Rate/$1,000 Assessed Value Levy Amount2019$1.50$4,556,2852020$1.50$4,784,0992021$1.50$5,023,3042022$1.50$5,274,470Passage of Proposition 1 would allow the Vashon Island School District to replace an existing educational programs and operation levy that will expire at the end of calendar year 2018. The proposed four-year replacement educational programs and operation tax levy would authorize collection of taxes to provide up to $4,556,285 in 2019, $4,784,099 in 2020, $5,023,304 in 2021, and $5,274,470 in 2022. The tax levy rate required to produce these levy amounts is estimated to be $1.50 per $1,000 of assessed value. The exact tax levy rate and amount to be collected may be adjusted based upon the actual assessed value of the taxable property within the District and the limitations imposed by State law at the time of the levy.The taxes collected by this levy will be deposited in the District’s General Fund and used to meet the educational needs of students and pay expenses of educational programs and operation that are not fully funded by the State of Washington.Exemptions from taxes may be available to certain homeowners. For more information, call the King County Department of Assessments, 206.296.3920.
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