Thanks for the response! That's very helpful. So people are already being assessed for the 2001 GO Bond, and that assessment would continue with the new bond, should it pass--not an increase, not a decrease, but the same amount (roughly $226/year based on median cost of a home in Laguna). Sorry if this is obvious, just want to clarify for myself.
Would this be an extension of the existing 2001 GO bond, or is it a “new” bond, and does the term “extension” even exist in this scenario? I have heard that term used for LBUSD, and I am curious if it is indeed accurate.
Thanks for the question! The term ‘extension’ wouldn’t be accurate in this case as the 2001 GO Bond is already funded. This would be a new GO Bond for the community to vote on. When people use the term ‘extension’ they mean that the district is likely going to use the current tax rate ($8ish per $100k assessed) so it wouldn’t be an increase in our current property tax rate. This can yield $80-$100 million!
Thanks for the response! That's very helpful. So people are already being assessed for the 2001 GO Bond, and that assessment would continue with the new bond, should it pass--not an increase, not a decrease, but the same amount (roughly $226/year based on median cost of a home in Laguna). Sorry if this is obvious, just want to clarify for myself.
Don’t apologize, I find it very confusing myself and I went deep into this issue for weeks! But yes you are 100% correct. 😊
Would this be an extension of the existing 2001 GO bond, or is it a “new” bond, and does the term “extension” even exist in this scenario? I have heard that term used for LBUSD, and I am curious if it is indeed accurate.
Thanks for the question! The term ‘extension’ wouldn’t be accurate in this case as the 2001 GO Bond is already funded. This would be a new GO Bond for the community to vote on. When people use the term ‘extension’ they mean that the district is likely going to use the current tax rate ($8ish per $100k assessed) so it wouldn’t be an increase in our current property tax rate. This can yield $80-$100 million!