Sale of Bond Reduces Community Tax Rate

Stanfield Tiger

In May 2019, voters approved a $14 million bond estimated to cost taxpayers $2.70 per $1,000 of Assessed Value.  Due to positive market conditions and timing in August, the district sold $12.7 million of bonds at a premium to receive the full $14 million to fund the projects.  Since the Stanfield community will only be paying taxes on $12.7 million instead of $14 million, the estimated tax rate is lowered to $2.49 per $1,000. This lower estimated rate is the same as the average paid on the previous bond!

Along with the $14 million in sale proceeds, last September the district was selected to receive an additional $4 million in state matching grants.  All in all, the district will utilize $18 million dollars for the projects.

Thank you again for supporting the students and staff at Stanfield School District!

Release Date