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MEasure Z
MEasure Z
On November 3, 2020, the voters of West Sacramento authorized Measure Z, which passed with 60.93% approval, and issued $150,000,000 in General Obligation Bonds for school facilities improvements, construction, and modernization. This will go a long way in protecting our students’ quality education and ensure opportunities for all students in WUSD schools for many years to come.
MEasure V
MEasure V
On November 4, 2014, the voters of the Washington Unified School District authorized Measure V, which passed with 66.6% approval and issued $49.8 million in General Obligation Bonds to reconstruct, renovate and repair aging elementary school classrooms and other school facilities, remove dry rot/mold and replace leaking roofs/windows, make classrooms accessible for the disabled students; and provide up-to-date classrooms, science/computer labs, career technology education facilities and to pay for the costs of issuance of the bonds.
Overview of School District Bonds (11-9-2023)
Overview of School District Bonds (11-9-2023)
District Update: 2004 School Bond and 2023-2024 Tax Implications
District Update: 2004 School Bond and 2023-2024 Tax Implications
This update provides additional information regarding the tax rates levied by Yolo County in the 2023-24 tax year for the 2004 Washington Unified School District (WUSD) bonds.
On September 20, 2023, Yolo County sent annual tax bills to West Sacramento residents, including higher tax rates than those levied for the 2004 bonds in recent years. Understandably, this has caused concern and confusion for residents, mainly since no tax rate was levied in the previous year.
Please note that taxpayers are NOT being overcharged, either in the current year or over the life of the bonds.
Tax rates are anticipated to return to projected levels in future years.
Frequently Asked Questions: 2004 School Bond and 2023-2024 Tax Implications
Frequently Asked Questions: 2004 School Bond and 2023-2024 Tax Implications
What was the 2004 Election Bond used for?
In 2004, the voters of West Sacramento authorized Measure Q, which passed with 68.7% approval for school facility improvements, construction, and modernization to eliminate overcrowding.
Why was the 2004 Election Bond not included in the 2022 tax bill but in the 2023 tax bill?
There were multiple bond issuances associated with the 2004 Election. The Yolo County Department of Financial Services, which is responsible for calculating tax rates, believed that those bonds were fully paid off in 2022, and thus, a tax rate was not levied on the 2022 tax bill. It was later discovered that a separate bond issuance component became due in 2022. As a result, tax rates that should have been levied on the 2022 tax bill were inadvertently omitted.
Why is there a significant increase in taxes compared to prior years?
The County typically levies taxes for bond payments due within the upcoming year. Unfortunately, due to the omission of the payments that occurred in 2022, the tax rate levied on the 2023 tax bill includes multiple years of bond payments. The remaining bond payments are also significantly higher than those in previous years, which factored into the increase.
When will the 2004 Election Bonds be paid off?
The 2004 Election Series A and B issuances will be paid off in 2029 and 2031, respectively. As of September 2023, the outstanding principal and interest balance on the Series A bonds is $31,650,000, and on the Series B bonds is $18,495,000.
Will this be a one-time tax increase or continue in future years?
The remaining debt service payments on the 2004 Series A and Series B bonds increase annually based on the payment schedule. However, increases in assessed valuation may partially offset the need for higher tax rates to cover these payments. Tax rates for future years have not been determined at this time.
What other bonds issued by Washington Unified School District are outstanding?
As of September 2023, WUSD’s outstanding General Obligation bonds are as follows:
Why did the 2020 Measure Z bonds tax rate increase?
When those bonds were issued in 2021, they included a Capitalized Interest Fund of approximately $3.2 million intended to partially offset debt service payments over the first three years. However, that Capitalized Interest Fund was mistakenly applied in full against the debt service payments in the initial year of repayment, resulting in a lower tax levy in 2021-22 and 2022-23. The increased tax rate in 2023-24 is required to offset the lower tax rates in the prior two years and ensure sufficient revenues are available to make the debt service payments on the original (Series A) bond issue and a forthcoming Series B issue. Tax rates are anticipated to return to projected levels in future years.
Who can answer additional questions?
For additinal information and questions, please contact the Yolo County Department of Financial Services:
Cynthia Bono
530-666-8190 x9206
Cynthia.bono@yolocounty.org
Corina Macias
530-666-8190 x9393
Corina.Macias@yolocounty.org