If the bond issue is not approved, would taxpayers see an immediate decline in their property taxes?
No. Only after all current bonds are repaid and the district does not issue new bonds upon voter approval would the debt service tax rate would then change and go to zero. Regardless of whether the bond issue passes or fails, the debt service tax rate will remain $1.07 after this election and have no impact on property taxes. Because this no tax rate bond issue represents an extension of the current debt service tax rate (which has stayed at $1.07 per $100 assessed valuation since 1999) and earlier this year the district lowered its operating tax rate by $0.55, any increase in taxes a voter might see after this election would be related to increases in property tax assessments.