On Feb. 12, we have a rare opportunity to vote to lower our property taxes while simultaneously securing additional funding for Tacoma Public Schools.
Proposition 1 would raise $500 million over the next 31 years to fund necessary school building improvements and renovations. The bond would fund major construction projects at 14 public schools plus 185 smaller projects related to health, safety, security and other improvements in schools across the school district.
If the bond passes, the tax rate would decrease for the next seven years because the district would stop collecting the voter-approved 2010 capital levy funding for Washington Elementary School and Hunt Middle School early. These schools would instead be refinanced at record-low interest rates over a longer period of time.
This is truly an example where everybody wins. Our students get to learn in better school buildings. Homeowners will save 88 cents per $1,000 of assessed valuation. Landlords will have less cause to raise the rent.The renovations and improvements will create jobs for construction workers and other skilled labor.
One would almost have to be insane to vote against Prop. 1.