District Saves Taxpayers Millions
Bethel School District is saving residents nearly $2 million in taxes by refinancing its bonds.
These are the bonds that were used to build Malabon and Fairfield elementary schools, and Willamette’s Science building.
Similar to restructuring the mortgage on a home, refinancing at lower interest rates means the bonds can be paid off quicker and cost less on interest over the long-term.
Bethel School District has a history of seeking to reduce the tax burden on its residents. Similar restructuring saved Bethel taxpayers $1.5 million in 2011 and $780,000 in 2016.
The current school tax rate for Bethel residents is about 40% lower than what it was 10 years ago.