SHERWOOD, Ore . — On November 2nd, voters will have the opportunity to vote on whether Tualatin Valley Fire & Rescue can issue $122 million in proposed general obligation bonds for emergency services. If Measure 34-308 were to pass, TVF&R would use proceeds to:
WOULD PROPERTY TAX RATES INCREASE IF VOTERS PASS THE PROPOSED BOND MEASURE?
Due to declining debt on existing bonds, the proposed measure would maintain the current rate of $0.1415 per $1,000 of assessed value unless assessed property values decline. For property assessed at $300,000, about the average in TVF&R’s service area, the estimated cost of the proposed bonds would continue to be about $42.45 per year or $3.54 per month if the measure passes. Assessed value is currently between 36-38% lower than market value.
The total tax rate for TVF&R is currently $2.1167 per $1,000 of assessed value, which includes:
$1.5252 Permanent Rate
$0.45 Local Option Levy
$0.1415 General Obligation Bond
WHAT HAPPENS IF PROPOSED BOND MEASURE 34-308 DOES NOT PASS?
If the proposed bond measure does not pass, the proposed safety projects, land, and equipment purchases would not be completed, and the tax rate would decrease