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2015 Bond FAQs

FREQUENTLY ASKED QUESTIONS

Q:    How much is the 2015 Bond Election?

A:    The bond election includes two proposals totaling $35,110,000.00. 

    Proposition 1: A series building bond for facilities totaling $34,710,000.00

    Proposition 2: A transportation bond for $400,000.00

State law requires transportation to be a separate proposal in school bond elections.

 

Q:    How are we able to bond for this amount?

A:    In 2009, the patrons of Tuttle School District approved a $12,530,000 series building bond issue and a $300,000 series transportation bond issue.  At the time of the election the Tuttle School District’s valuation was $42,924,833 and since that time the Tuttle School district’s valuation has increased/grown to $62,782,650.  This increased valuation provides our district with the ability to vote more bonds for capital improvements.

Q:    How is this funding made possible?

A:    Funding is made possible through the issuance of bonds.  A Bond is a legal means of allowing a school district to incur debt to be paid back over time.  The revenue required to pay off the debt is generated by levying taxes.  These taxes are calculated in mills.  A mill is one/tenth of a penny or 1/1000th of a dollar.  The March 3rd, 2015 Bond Issue is projected to raise the sinking fund millage levy to 35 and is projected to remain at that level for the next fifteen years.  The sinking fund millage levy is a portion of your total property tax to retire bond issue debt. 

Q:     How does the projected 35 sinking fund millage levy compare to the sinking fund millage levies in other Districts?

A:    Blanchard’s current sinking fund millage levy is 47.3, Newcastle’s sinking fund millage levy is 43.22, and Bridge Creek passed a bond issue in August of 2014 which is projected to raise their sinking fund millage levy to 34

Q:    How will this affect my property taxes in dollars and cents?

A:    Taxes are projected to increase 9.17%.  This would mean that an individual currently paying a total property tax amount of $1,000.00 would be projected to pay a total property tax of $1,091.74. This is an annual increase of $91.74 or a monthly increase of $7.64. This tax increase would not take effect until 2016, or when you receive your property tax bill in December 2016.  

Q:    When will the new facilities be completed?

A:    The new facilities will all be completed and ready for occupancy with-in two years given passage of the March 3, 2015 Bond Election

Q:    I live outside the city limits. Can I still vote?

A:    Yes. The city of Tuttle is 29.2 square miles, but the Tuttle Public School District covers an area that is 81.71 square miles.  Any registered voter living within the district’s boundary may vote in the March 3 bond issue election.  You have a right to vote and you may exercise it. 

Q:    How many votes does it take to pass the Bond Issue? 

A:    The bond issue requires a super majority in order to pass, which means that at least 60% of the votes cast must be (Yes) votes.