Cost Information
2024 Replacement Technology/Capital Levy
If approved, the 2024 Replacement Technology/Capital Levy will replace the expiring 2020 Technology/Capital Levy. The anticipated total cost for the projects is estimated at $120 million over four years.
The amount to be levied each year:
2024 School Construction Bond
If approved, the 2024 School Construction Bond would authorize the Edmonds School District to issue bonds over the next four years in an amount not to exceed $594,000,000.
Combined Property Tax Rates
The tax rate is expected to increase to $2.65 in 2024 due to a decrease in assessed valuation (AV). AV is expected to flatten in 2025 and the tax rate would remain consistent with 2024. There is an inverse relationship between tax rate and assessed valuation.
Tax collections for school districts are different from many other government funding measures which charge by rate, not a capped amount. School District levies and bonds are capped at the amount approved by voters.
Graph above prepared by ESD 112
Actual and Estimated Tax Rate Comparison
|
2023 (actual) |
2024 (est.) |
2025 (est.) |
|
|---|---|---|---|
|
Educational Programs and Operations Levy |
$1.23 |
$1.20 |
$1.24 |
|
Technology/Capital Levy |
$0.48 |
$0.48 |
$0.60 |
|
2021 Capital Levy |
$0.59 |
$0.60 |
$0* |
|
Bonds (including prior measures) |
$0.32 |
$0.37 |
$0.81 |
|
Total: |
$2.62 |
$2.65 |
$2.65 |
*If approved, Edmonds School District would eliminate the 2021 Capital Levy at the end of 2024 and use bond funding to complete the replacement project on an accelerated schedule.
How Edmonds Compares
2023 overall property tax impact
