Cost Information
Proposition 1 will raise $242,138,000 to rebuild two elementary schools, expand three schools, upgrade one school, make districtwide safety improvements and critical repairs, and improve fields and athletic facilities at both high schools. This bond will keep taxes stable due to reduced collection of current Captial Project levy taxes.
The district does not collect more money when property home values increase. If property values rise, the tax rate decreases to generate only the dollar amount approved by voters.
NKSD’s Citizen Facilities Advisory Committee developed this bond proposal with the goal of keeping tax rates stable for property owners.
The district can influence the amount collected from taxpayers in a given year by staging bond sales in portions. The district does not sell all the bonds for the entire amount at one time. By selling the bonds in smaller portions, costs are spread over time.
Senior citizens, people with disabilities and veterans with disabilities can qualify for a tax exemption. For details, please visit the Kitsap County Assessor’s website.
Tax Rate
Tax rates for school funding measures fluctuate as property values change. The school district asks voters to approve a dollar amount, not a tax rate. If property values increase, the tax rate decreases to generate only the dollar amount approved by voters.
The Capital levy in 2018 and 2022 created capacity for the bond without a measurable increase in taxes. The $242 million bond increases the tax rate by approximately $.10 per $1,000 of assessed home value. This means that it will cost about $50.00 per year for a home valued at $500,000. Use the calculator to see what the impact would be for your home.
Historical Tax Rates
Over the past several years, NKSD has been committed to stabilizing tax rates for our community. As shown in the image below, historically tax rates have been much higher and fluctuated. The plan as we move into the future is to keep tax rates stable.
Comparable Tax Rates
When we compare our tax rates to Washington State school districts with similar assessed property values, you can see that North Kitsap has the lowest combined tax rate in the state as of 2022. The bond will maintain this low and stable rate for our community.
