League of Women Voters of California Education Fund
	Los Angeles County, CA March 5, 2013 Election
	Measure BUSD-S School Improvement Funding Burbank Unified School District School Bonds - 55% Approval Required Election Night Results (Unofficial) Pass: 4,053 / 61.5% Yes votes ...... 2,542 / 38.5% No votes See Also: Index of all Measures

Tax Rate Statement from BUSD Superintendent

An election will be held in the Burbank Unified School District (the "District") on March 5, 2013, to authorize the sale of up to $110,000,000 in bonds of the District to finance school facilities as described in the proposition. If the bonds are approved, the District expects to issue the Bonds in mUltiple series over time. Principal and interest on the bonds will be payable from the proceeds of tax levies made upon the taxable property in the District. The following information is provided in compliance with Sections 9400 through 9404 of the California Elections Code. 1. The best estimate of the tax which would be required to be levied to fund this bond issue during the first fiscal year after the sale of the first series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is 0.50 cents per $100 ($5.00 per $100,000) of assessed valuation in fiscal year 20 \3-\4. 2. The best estimate of the tax rate which would be required to be levied to fund this bond issue during the first fiscal year after the sale of the last series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is 0.50 cents per $100 ($5.00 per $100,000) of assessed valuation in fiscal year 2016-17. 3. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is 5.518 cents per $100 of assessed valuation in fiscal year 2027-28. This represents the extension of the expired 1997 election bond tax rate (currently $50.18 per $100,000), plus the 2012 election bond tax rate of$5.00 per $100,000, for a total of$55.18 per $100,000. Voters should note that estimated tax rates are based on the ASSESSED VALUE of taxable property on the County's official tax rolls, not on the property's market value, which could be more or less than the assessed value. In addition, taxpayers eligible for a property tax exemption, such as the homeowner's exemption, will be taxed at a lower effective tax rate than described above. Property owners should consult their own property tax bills and tax advisors to determine their property's assessed value and any applicable tax exemptions. Attention of all voters is directed to the fact that the foregoing information is based upon the District's projections and estimates only, which are not binding upon the District. The actual tax rates and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold and market interest rates at the time of each sale, and actual assessed valuations over the term of repayment of the bonds. The dates of sale and the amount of bonds sold at any given time will be determined by the District based on need for construction funds and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount and value of taxable property within the District as determined by the County Assessor in the annual assessment and the equalization process.