Continued growth drives down levy and bond rates

Continued growth in local assessed value drives down levy and bond rates for Walla Walla taxpayers
A strong economic recovery continues to positively influence Walla Walla Public Schools and local taxpayers. Recent reports from the Walla Walla County Assessor’s Office revealed a 6.2% increase in assessed value for the region in 2017. This represents seven straight years of assessed value growth, offsetting the great recession impact when growth reached an all-time low, dipping to -4.68% in the 2010 calendar year.

“As a result of the continued growth, in addition to the district’s prudent, conservative assumptions when communicating with taxpayers regarding projected bond and levy rates when voters approved both measures, a collective savings of 22 cents per thousand will be realized,” Superintendent Wade Smith reported. “In addition, refinancing of prior debt in 2010 has saved taxpayers significant interest rate costs on school bonds as all bond debt will be paid off on December 1, 2018.”