When voters in the Tracy Public School District passed a bond referendum last year for infrastructure upgrades at the schools in the amount of $7,565,000 by a 2-to-1 margin, they sent a strong message of support for the overdue multi-year project.
And while the process is mostly tucked behind-the-scenes for now, taxpayers will be happy to know that the dent in their pocketbooks won’t be quite as big as previously advertised.
That’s because the district has received favorable results for financing of the project, which is good news for taxpayers.
“Every little bit helps,” Tracy Area Public Schools Supt. Chad Anderson said. “As far as the taxpayers go, they’ll notice that, compared to what we anticipated it being; we’ll keep that under what we said it will be. That is something that our taxpayers will notice.”
The pre-election tax increase communicated to voters was estimated at $114 per year on a $125,000 residential homestead for taxes payable in 2023, with updated estimates projecting the tax impact to be approximately $100 per year. For agricultural homestead property with an estimated average market value of $7,300, the pre-election estimates anticipated at $0.97 per acre tax increase is now estimated to be roughly $0.48 per acre.
On Jan. 17, the District accepted competitive bids for the school building bonds approved by voters in a special election on Aug. 9, 2022.
See more in this week’s paper!