I noticed the City's bond proposal information pamphlet did not mention expected tax increases as a result of the bond measures passing.  It would be useful to know the projected impact of the proposed bond measures on our property taxes.  Could you tell me the expected  percentage increase in property taxes on an average residential property beginning in 2014 if all the November bond measures are voted in.

Thanks

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Coacapital Planning Office almost 5 years ago

The debt service tax rate (the portion of the tax rate that goes to paying off debt) is not expected to rise this year as a result of any or all of the 2012 Bond Propositions being passed (Props 12-18).

If voters do not approve the 2012 Bond Propositions, the debt service tax rate could potentially decrease by 2 cents for every $100 of property value during the course of six years, starting in 2015.  This assumes, however, that the City does not issue any more debt other than what is already planned, that no other bond propositions are approved by voters and that property values grow at a steady rate, among other assumptions.

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