Frequently Asked Questions

We’ve compiled a list of many questions about the bond that we’re hearing around the community and have done our best to answer those questions here. Click on a question below to toggle open the answer.

Tax Impact

What will the new bond cost? What are property owners currently paying?

The new bond on the February ballot is estimated at an increase of $0.92 cents per $1,000 of assessed property value (OAV). Property owners are currently paying $0.74 cents/$1,000 OAV. The combined total for capital facility improvements would be $1.66/$1,000 OAV.

Estimated Cost Breakdown
YEAR CURRENT BOND RATE/$1,000 (RETIRES IN 2023) NEW PROPOSED BOND RATE/$1,000 TOTAL BOND RATE/$1,000 COST PER $100,000 OF ASSESSED VALUE
2019 0.74 0.00 0.74 $74
2020 0.74 0.92 1.66 $166
2021 0.76 0.90 1.66 $166
2022 0.77 0.89 1.66 $166
2023 0.00 1.66 1.66 $166

Why is the rate for the new bond less than what was on the ballot last November?

The new bond rate is lower than the last election because assessed valuation has increased in the school district. The total amount of the bond is the same. The rate at which taxpayers repay the bond is less because it is shared over properties with a higher value and new construction.

When will the new tax rate take effect?

If approved by voters, repayment of the new bond would start being collected in 2020. At the end of 2022, an old bond for school facilities will retire. The new bond would be adjusted to maintain the same rate (1.66/$1,000) for taxpayers for these critical capital facility improvements.

Show me a chart of how this breaks down for property owners.

Estimated Cost Breakdown
YEAR CURRENT BOND RATE/$1,000 (RETIRES IN 2023) NEW PROPOSED BOND RATE/$1,000 TOTAL BOND RATE/$1,000 COST PER $100,000 OF ASSESSED VALUE
2019 0.74 0.00 0.74 $74
2020 0.74 0.92 1.66 $166
2021 0.76 0.90 1.66 $166
2022 0.77 0.89 1.66 $166
2023 0.00 1.66 1.66 $166

How long will the new bond last?

The repayment schedule will last for 20 to 22 years depending on market conditions at the time of sale.

How has the McCleary decision impacted us here in Ferndale?

The McCleary decision required the Washington State Legislature to determine a method for funding education in Washington State that does not rely so heavily on local funding. The Legislative fix included adjusting the state portion higher and lowering all local rates. That process affects the Ferndale School District and all other school districts in the state.

Are we still paying for existing bonds?

Yes, bond payments from the 2006 bond will retire at the end of 2022.

Who can I contact for more information?

Assistant Superintendent Mark Deebach welcomes your comments or questions at (360) 383-9203 or mark.deebach@ferndalesd.org. Thank you.

Still have questions? Ask us!

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