Investment Information
Cost Information
Estimated Cost to Homeowners
The estimated tax rate increase is approximately 20 cents per $1,000 of assessed value, or about $11 per month for the median home in Mukilteo School District (based on a median assessed value of $659,200*).
*Median assessed value according to the Snohomish County Assessor’s Office.
Leveraging State Funding
Leveraging State Funding
If voters approve the bond, the district could qualify for more than $30 million in state School Construction Assistance Program (SCAP) funding for eligible projects. Without passage of the local bond, the district is not eligible to receive these state funds. These funds do not result in an additional local school tax.
*Based on current state formulas under Chapter 28A.525 RCW. Actual amounts depend on final state calculations.
Total Tax Rate by Year, All Funds
The $0.57 per $1,000 of assessed value noted in the Voters Guide for Proposition 1 is the estimated excess levy rate over the life of just these bonds (in isolation), not the amount that residents tax rate associated with bonds would increase after authorizing this proposition. This is because we have overlapping bond schedules with bonds expiring as new bonds are authorized, so if the 2026 bond authorization passes, residents would see the estimated net tax rate increase (associated with bond issuances) increase by $0.20 per $1,000 of assessed value.
