I wanted to take a moment to try and provide some clarification on the parking lot project at both the Elementary School and Middle School/High School sites.
The word Abatement means the ending, reduction, or lessening of something. I wish I knew why the state named this type of bond an Abatement Bond as it will not abate the taxes of anyone in the district. All parcels in the district, including the parcels listed in the paper will incur a small tax increase spread over 6 years. At present, I have an idea what that tax increase will be, but I am not putting out any numbers until I have exact amounts. We likely will have those amounts by the middle of June.
Essentially this is a non-voter approved financing resulting in a tax increase such as cities and counties do from time to time on street/road repairs and similar projects. Schools only have authority to do this on their parking lots.
As I tried to explain in my article in the Argus a couple of weeks ago, the School District understands this is a difficult time to put an additional burden on district taxpayers, it is also the best time to do the project given the following:
Historic lows on interest rates
Current oil prices are as low as they have been in many, many years.
The bituminous surfaces at both buildings need to be replaced and the district has an obligation to do so.
I hope this helps to clarify any confusion there may have been because of the word “Abatement”. If you should have any questions, please call the district office, or send me an email.
Thank you and Go Warriors!