Bonner County median income is only $41,879.
The $55.1 million school facility levy rolled out by the Lake Pend Oreille School District for an August 30th vote will, if if passes, significantly impact the economic situation of many homeowners and businesses in the district.
In Bonner County, the median income is only $41,879, according to the 2010 U.S. Census, and this year about 2,400 households, 14%, were in arrears with their property taxes. Doubling the school tax portion of those property taxes may just put them out of their homes.
Now look at the levy which is supposed to make our school buildings so wonderful that they match the “world class education” the district is giving them (in their words). Out of the $55.1 million ,more than 4 million will go to outside entities that have nothing to do with the school or students; they are a legal firm, bank, foundation, title, appraisal, insurance firm, all involved in the financial structure to bring this levy to bear. That is because the financial structure is so complex, unusual and fraught with unique issues that other levies have not had.
So while you are trying to figure out how you are going to make your increased property tax payment, these entities are raking in millions. To be exact, and according to the LPOSD Financial Officer, $4,075,000.
The education of our students has nothing to do with that multi-million dollar expense.
Please vote against this levy. The educational achievement of our students is not what is driving it.