Questions regarding property tax assessments for bond measures:
San Juan Unified School District (SJUSD) voters have approved four general obligation bonds in recent years:
- Measure S (1998) $157,000,000
- Measure J (2002) $350,000,000
- Measure N (2012) $350,000,000
- Measure P (2016) $750,000,000
Each ballot measure, once approved, authorizes the school district to issue general obligation bonds to investors. The investors purchase the bonds, which are essentially debt notes, paying cash to the district. The district uses this cash to finance capital construction projects and repays the investors with tax revenues received from district property owners. The bond debt is usually paid off in 25 years or less.
Each separate ballot measure defines how bond funds may be spent. Generally, they must be spent only for capital expenditures, such as building construction, renovation, repairs and other upgrades. Bond funds may also be used to purchase certain capital equipment and to furnish schools and classrooms. They are not used for consumable supplies or unrelated teacher and administrator salaries.
Who has to pay?
The bond debt is repaid to investors through the assessment of additional, temporary property taxes. The debt is typically repaid in 25 years or less. Debt with shorter terms are repaid more quickly, lowering borrowing costs, which has saved San Juan taxpayers tens of millions of dollars. Property owners within the San Juan Unified School District boundaries are assessed up to $60 for every $100,000 of assessed property valuation for each separate bond measure. Taxpayers will see this additional assessment on their property tax bill as “San Juan Unified GOB.” The tax is only assessed to those who own real property.
What are my rates?
San Juan Unified has implemented an aggressive repayment schedule on bond issuances, saving taxpayers millions of dollars in interest rates. Current property tax bills (2018) should reflect a $199.30 per $100,000 of assessed property value. It breaks down like this:
- Measure S: $30.80 per $100,000
- Measure J: $49.10 per $100,000
- Measure N: $59.50 per $100,000
- Measure P: $59.90 per $100,000
- Total: $199.30 per $100,000
Are there exemptions?
The law does not allow for any exemptions for general obligation bond tax assessments. Those who have difficulty paying property taxes should contact the Sacramento County Assessor directly. The school district does not assess property taxes, nor does it have the authority to waive taxes.
How is oversight provided?
San Juan Unified utilizes a Citizens Bond Oversight Committee (BOC) to ensure that all expenditures are made appropriately under the original ballot measure language provided to voters. The BOC holds four quarterly meetings each year, and all financial reporting, meeting minutes and additional information is posted online at www.sanjuan.edu/coc. Bond spending is also subject to regular independent audits and is advised by independent legal counsel.
Learn more about San Juan Unified’s bond program
To learn more about all of San Juan Unified’s school construction, upgrades and repairs that are funded by Measures J, N and P, visit www.sanjuan.edu/constructionnews.